Sudar Industries board to vote on raising funds by way of postal ballot

By Tali Rackner

Norfolk, Va., May 15 - Sudar Industries Ltd. informed the Bombay Stock Exchange that its members will vote via postal ballot regarding raising up to $25 million of funds through foreign currency convertible bonds or notes, American Depositary Receipts or shares and/or other financial instruments convertible into equity shares of the company.

Sudar will also consider issuing up to $25 million of equity shares on a preferential basis to non-promoters of the company.

The issuer is an apparel manufacturer based in India.

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