Emami Paper Mills, a part of the Rs 6,000 crore Emami Group, has
received an approval for raising Rs 120 crore through issue of
preference shares to finance its expansion project at Odisha’s Balasore.
The board of director at its meeting held on June 14, 2013, has
considered and approved the issue of 30,00,000 Cumulative Redeemable
Non-Convertible Preference Shares of Rs 100 each at a premium of Rs 300
each aggregating to Rs 120 crore.
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