Indo Rama considers issuing up to Rs. 2 billion of convertible bonds

By Devika Patel

Knoxville, Tenn., June 23 - Indo Rama Synthetics (India) Ltd. informed the Bombay Stock Exchange that it will consider a proposal to issue up to Rs. 2 billion of foreign currency convertible bonds at an annual general meeting on July 14.

The company also may issue equity shares and other convertible instruments or securities, such as Global Depositary Receipts, American Depositary Receipts, convertible preference shares, convertible debentures or bonds and non-convertible debentures, with or without warrants.

Indo Rama, based in Nagpur, India, is a polyester maker.

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