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| Exchange Disseminated Time 03/10/2016 19:49:48 | Anik Industries Ltd has informed BSE that the Board of Directors has decided to invests funds of the Company in following modes :
1. Upto Rs. 140.00 Crore in one or more tranches in the proposed Hospitality cum Mixed Use Project of 'Revera Milk and Foods Private Limited', a Company registered under the Indian Companies Act. The said investment will be in the mode of Optionally Convertible Debentures.
2. Upto Rs. 30.00 Crore in one or more tranches by purchase of majority equity stake of Sri Lanka based Company Taras Industries Private Limited' from a foreign stakeholder under a strategic decision to augment international trading activities of the Company. |
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