With reference to the earlier announcement dated July 02, 2008, Modern Dairies Ltd has further informed to BSE that in addition to International Finance Corporation (IFC) subscribing to 46,50,000 equity shares of the Company @ Rs 60/- per share, the Company has also entered into a Loan Agreement with IFC for an External Commercial Borrowing (ECB) of US Dollar 8.5 million subject to Company’s obtaining the Reserve Bank of India approval in this regard.
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