Lanco Global Systems mulls issuing up to Rs. 3 billion of convertibles

By Devika Patel

Knoxville, Tenn., Dec. 24 - Lanco Global Systems Ltd. informed the Bombay Stock Exchange that its shareholders will vote on plans to issue up to Rs. 3 billion of convertibles in a postal ballot.

The company's board of directors approved the bonds at a meeting on Dec. 1.

Securities may include term loans, debentures, deep discount bonds and foreign currency convertible bonds.

Hyderabad, India-based Lanco Global Systems is an IT services provider.

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