India's Alok might issue up to $150 million of bonds or convertibles

By Ashley Montgomery

Kansas City, Kan., March 16 - Alok Industries Ltd. informed the Bombay Stock Exchange that its board of directors plans to consider raising up to $150 million of funds through an issue of foreign-currency convertible bonds or non-convertible debt instruments.

The company will also consider raising the funds through issues of equity shares, qualified institutional placements, Global Depositary Receipts, American Depositary Receipts and securities convertible into equity shares.

The board will consider the options at a meeting on March 22.

Alok Industries is a New Delhi maker of colors and other additives for the plastics industry.

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