Insecticides India seeks $15m in expansion capital
Insecticides India hopes to raise around INR700 million ($15.3 million) through a qualified institutional placement of shares of a private equity round of financing to support its expansion plans. Rajesh Aggarwal, the company’s managing director, said that talks are already underway with several potential investors, The Economic Times reported.
As a result of the transaction - which will involve the issue of new shares - the promoters' stake in the company will fall from 75% to around 66%. Insecticides India has five plants in Rajasthan, Jammu...
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