Sarang Chemicals to raise funds

Sarang Chemicals Ltd has announced that the Board of Directors of the Company at its meeting held on October 24, 2008, inter alia, has taken the decision to raise funds to the tune of Rs 10 Crores (Rupees Ten Crores only) by offering, issuing and allotting 75 Lakhs (Seventy Five Lakhs) Convertible Warrants and 25 Lakhs (Twenty Five Lakhs) shares on Preferential basis, subject to the consent of Members of the Company.

To authorize any of the director of the Company to issue notice to convene an Extra Ordinary General Meeting of the members of the Company on November 27, 2008.

Source : Equity Bulls

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