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Nahar Industrial shareholders approve up to $40 million securities issue
By Jennifer Chiou
New York, Feb. 2 - Nahar Industrial Enterprises Ltd. informed the Bombay Stock Exchange that its shareholders approved an issue of up to $40 million of foreign currency convertible bonds, Global Depository Receipts or related securities.
At the Jan. 30 meeting, shareholders also authorized a $5 million greenshoe option.
Based in Punjab, India, Nahar is a textile company that manufactures yarn, fabrics and readymade garments.
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