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Wednesday, Mar 10, 2004

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Orchid Chemicals may raise funds

Our Bureau

Chennai , March 9

ORCHID Chemicals & Pharmaceuticals announced on Tuesday that a governing board meeting scheduled for next week would consider raising long-term funds through suitable ways, including warrants to promoters and foreign bonds.

Mr K. Raghavendra Rao, Managing Director and a promoter of the company, said the aim of the warrants would be to ensure the promoters' holding did not fall below the current level of 14.44 per cent.

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