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Friday, Aug 05, 2005
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Prajay Engg plans global issue

Our Bureau

HYDERABAD: The board of directors of Prajay Engineers Syndicate Ltd has decided to offer foreign investors FCCBs (foreign currency convertible bonds) or ADRs (American Depository Receipts) or GDRs (Global Depository Receipts) aggregating $75 million (approximately Rs 327 crore).

The company informed stock exchanges that it would seek the approval of shareholders at the annual general meeting scheduled for August 25.

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