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Our Bureau

Hyderabad, Nov. 16

Coromandel Fertilisers Ltd , part of the Murugappa Group, has obtained the approval of shareholders for the issue of equity/securities linked to equity for an amount of up to Rs 230 crore or its equivalent in any other currency.

At an extraordinary general meeting held on Wednesday, the shareholders have authorised the board to take necessary steps in this regard, the company informed the stock exchanges. Further, the company said the shareholders have also approved the proposal to enhance borrowing powers of the board to Rs 750 crore from the current level of Rs 500 crore.

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