Neha International gets nod to raise up to $50 million

Neha International has received an approval to raise fund by issue of securities up to $50 million. The company has also received approval for increasing of borrowing powers up to Rs 500 crore. The board at its meeting held on December 06, 2011 has approved for the same.

Recently, the company had 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.

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.