Fedders Lloyd board OKs possible convertibles issue for up to Rs. 3 billion

By Laura Lutz

Des Moines, Oct. 16 - Fedders Lloyd Corp. Ltd. announced that its board approved the issue of up to Rs. 3 billion of global depositary receipts, American depositary receipts, foreign currency convertible bonds or other securities.

The board approved the offering at its Oct. 16 meeting.

The company will convene an extraordinary general meeting on Nov. 15 to seek shareholder approval of the offering.

Fedders Lloyd is an air conditioning company based in Noida, India.

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