Educomp Solutions board OKs effort to raise funds through bond issue

By Ashley Montgomery

Kansas City, Kan., Oct. 9 - Educomp Solutions Ltd. informed the Bombay Stock Exchange that its board of directors approved a proposal to issue securities in order to raise capital.

The company would issue up to $250 million of long-term securities, including international bonds. The bonds could also be issued in an equivalent amount of Indian rupees.

The issue would carry a sub-limit of up to $75 million, or the equivalent in rupees, of equity-linked instruments.

New Delhi-based Educomp develops computer-based teaching solutions.

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