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Temptation Foods board oks raising up to $200 mln

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MUMBAI | Wed Feb 3, 2010 6:22pm IST

MUMBAI Feb 3 (Reuters) - Temptation Foods Ltd (TMPF.BO) said on Wednesday its board approved raising up to $200 million via share sale to institutional investors or issue of depository receipts.

The board also proposed a rights issue to fund expansion, terms of which would be decided in consultation with merchant bankers, it said in a statement to the Bombay Stock Exchange.

The board also approved issuing 7.5 million shares at 40 rupees per share on preferential basis to Taib Securities Mauritius Ltd, HBS India Investment Mauritius Ltd and India Max Investment Fund Ltd, it added. (Reporting by Tamajit Pain; Editing by Prem Udayabhanu)

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