Firstsource Solutions OKs plan to issue $275 million of convertibles

By Devika Patel

Knoxville, Tenn., Oct. 23 - Firstsource Solutions Ltd. notified the Bombay Stock Exchange that its board of directors has approved the company's plans to issue up to $275 million, down from its originally intended $300 million, in foreign currency convertible bonds.

The company announced its plans on Oct. 16 and voted on the proposal at a board of directors meeting Tuesday.

Firstsource Solutions is a Mumbai, India-based outsourcing company.

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