Havells India board OKs issue of up to $150 million of convertibles

By Jennifer Chiou

New York, Dec. 26 - Havells India Ltd. informed the Bombay Stock Exchange that its board of directors approved the issuance of up to $150 million of convertible bonds, shares, American Depositary Receipts, Global Depositary Receipts or similar securities at a Dec. 26 meeting.

Shareholders will gather at a Jan. 20 meeting to vote on the issue.

Havells is a Noida, India-based maker of electrical products.

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