The Hindu Business Line : AP Paper gets nod for $50-m issue

HYDERABAD: The shareholders of Andhra Pradesh Paper Mills Ltd (APPML) have authorised the board to issue further securities for raising an amount of up to $50 million or its equivalent value in Indian rupees.

The company has informed the stock exchanges that the members have also approved revision of borrowing limits to Rs 1,000 crore and authorised the board to create mortgages/charges and hypothecations on the assets for an aggregate value not exceeding Rs 1,000 crore.

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