The board of directors of Radha Madhav Corporation, which met today, approved proposal to raise Rs 18.1 crore via bonds and issue of shares.According to a release issued by the company to the BSE today, the board approved a proposal to issue 10 lakh convertible bonds at Rs 100 per bond to India Star (Mauritius)."The board also approved issue of 18 lakh shares at Rs 45 per share to a foreign investor," the release addd.The funds would be used to expand the pharmaceutical packaging business in Uttaranchal and Daman, the release said.
