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Hyderabad, Aug 22

The board of directors of Suryajyoti Spinning Mills Ltd at its meeting on Tuesday approved the proposal for raising funds through global offering.

The company informed the stock exchanges that the board approved issue of foreign currency convertible bonds (FCCBs), global depository receipts (GDRs) and other similar securities for an amount of up to $20 million. However, the proposed global offering would be subject to the approval of shareholders, the company said.

(This article was published in the Business Line print edition dated August 23, 2006)
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