BUSINESS

U.K. firm to invest in Arvind Remedies equity

MUMBAI: The board of directors of Arvind Remedies has given an in principle sanction to the proposal of Citiconsult Emerging Markets of the U.K. for investing in the company up to an amount of Rs. 1 crore at Rs. 11 per equity share of one each and has recommended the management to proceed with discussions and deliberations. The board also approved the provisions enabling FII limit in the company to 24 per cent. — Our Bureau

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