Sudar Industries has received an approval for raising of funds through warrants, convertible debentures, Foreign Currency Convertible Bonds (FCCBs), Foreign Currency Convertible Notes (FCCNs), Global Depository Receipts (GDRs) and/or American Depository Receipts (ADRs), Secured Premium Notes (SPNs) and/or other financial instruments (OFIs) convertible into equity shares to an extent of amount not exceeding $100 million.
The company has also received an approval to increase its authorized share capital from Rs 25,00,00,000 to Rs 50,00,00,000 and consequently alter the respective capital clause in the Memorandum of Association of the Company. The board at its meeting held on November 30, 2012 has approved the same.
Sudar Industries is engaged in exports worldwide manufacturing niche pharmaceutical intermediates CRAMS & agrochemicals and derive 50% of their revenues from exports across multiple countries.
