Adarsh Plant to sell 4.5% stake

Adarsh Plant Protect has received a letter of intent (LOI) from Sisa Tradelink Inc, USA for buying 4.5% stake in the company.

According to a release issued by Adarsh Plant to the BSE today, the price of equity/warrant would not be less that Rs 55 each decided as per Sebi guidelines and other necessary approvals.

"This is the second LoI after receiving the first letter of intent from Lewis and Company, UK asking for 4.90% equity. So, total foreign placement would now be 9.40%," the release added.