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The board of directors of Sita Shree Food Products on Monday approved raising of funds through qualified institutional placement of equity shares/ convertible securities or such other securities in one or more tranches of upto ₹20 crore. However, the fund-raising plan is subject to approval by shareholders in the general meeting and being in compliance with SEBI norms. Shares of Sita Shree Food Products closed at ₹7.3, a gain of 1.65 per cent on the BSE.
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