Inditrade Rural Marketing to issue shares via private placement

The board of Inditrade Rural Marketing Ltd. proposed to issue up to 3,600,000 equity shares of the company via a private placement, subject to necessary approvals.

If the offering is pursued, the joint holding of Inditrade Capital Ltd. and Inditrade Business Consultants Ltd. in Inditrade Rural will drop below 50% of the total equity share capital.

Inditrade Rural would also cease to be a subsidiary of Inditrade Capital, according to a Nov. 24 news release.