FCS Software OKs proposal to sell up to $25 million in convertibles

By Devika Patel

Knoxville, Tenn., March 11 - FCS Software Solutions Ltd. told the Bombay Stock Exchange that it approved plans at an extraordinary general meeting on Jan. 30 to issue up to $25 million in foreign currency convertible bonds.

The company obtained approval for the bonds at a board of directors meeting on Jan. 4.

The company also is considering issuing Global Depositary Receipts and American Depositary Receipts.

FCS Software Solutions is a Noida, India-based provider of information technology and IT-enabled services to clients in the United States.

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