Neha International to invest additional $2 million in Neha Agricorp

Neha International has received its board’s approval to invest additional $2 million in its Wholly Owned Subsidiary -- Neha Agricorp -- by way of loan. The company’s board gave approval for the same at meeting held on August 13, 2011.

Further, the board has also approved the conversion of 1,69,000 warrants to shares of Rs 10 each at a premium of Rs 45 per share subsequent to receipt of 100% subscription amount.

Neha International is a premium and successful grower of cut roses. The company also deals in trading of green house-related machinery and undertakes the business of outsourcing services.