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SREI plans to unveil Rs 75cr rights issue
Dheer Kothari
CALCUTTA, JANUARY 31: SREI International Finance Ltd proposes to come out with a "mezzanine" capital issue to mop up Rs 75 crore which would be an additional layer of financing between secured loans and equity capital and form part of Tier II capital of the company, director Sunil Kanoria said here on Monday.The board has already accorded its sanction and the company plans to launch the issue in March this year after consultation with its merchant banker, UTI Bank. In the first nine months of the current year, the company has already crossed the profit achieved in the previous year of Rs 8.20 crore. The net profit in the nine months ended December 31,1999 touched Rs 9.25 crore compared to Rs 7.43 crore last year. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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