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Emco to raise $10 m

MUMBAI, MARCH 5. Emco plans to raise $10 million through the issue of Global Depository Receipts (GDR) or Foreign Currency Convertible Bonds (FCCBs). The company has also decided to raise the limit for investment by foreign institutional investors and other eligible entities in the company to 30 per cent of the paid-up value of the share capital, it informed the Bombay Stock Exchange.

The company has convened an extraordinary general meeting on March 29, it added. — PTI

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