ICSA India issues $22 million convertible bonds

By Jennifer Chiou

New York, March 9 - ICSA India Ltd. informed the Bombay Stock Exchange that it issued $22 million of 2.5% unsecured foreign-currency convertible bonds in the international markets.

The securities priced at par of $10,000.

The company's board approved the issue on Friday. It obtained shareholder approval on Feb. 12.

Elara Capital plc, London was the lead manager.

ICSA manufactures power management and remote monitoring products and is based in Hyderabad, India.

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