Adarsh Plant receives LoI from US firm for stake in company

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Mumbai, Jan 1 (UNI) Adarsh Plant Protect has received a Letter of Intent (LOI) from Sisa Tradelink Inc of USA for securing a stake in the Company to the tune of 4.50 per cent.

Adarsh Plant has informed the BSE that the price of equity/warrant would be decided as per the Securities and Exchange Board of India (SEBI) guidelines and other necessary approvals, and subject to the approval of the Board and Members.

The Company had received the first letter of intent from Lewis and Company, UK, seeking 4.90 per cent equity. So, total FI placement would now be 9.40 per cent.


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