India's Deccan Aviation to sell up to Rs. 16 billion of convertibles

By Susanna Moon

Chicago, March 3 - Deccan Aviation Ltd. notified the Bombay Stock Exchange that it would hold a meeting on March 18 to consider issuing up to Rs. 16 billion of convertible bonds.

Securities considered are Global Depositary Receipts, American Depositary Receipts, foreign-currency convertible bonds and foreign-currency exchangeable bonds.

The company also will discuss raising the authorized share capital to Rs. 5 billion from Rs. 200 million.

Deccan Aviation produces energy-efficient lighting products and is based in Bangalore, India.

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