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Ankit Metal to consider issuing up to $300 million in convertibles
By Devika Patel
Knoxville, Tenn., Feb. 20 - Ankit Metal & Power Ltd. informed the Bombay Stock Exchange that it will vote on plans to issue up to $300 million in foreign currency convertible bonds at an extraordinary general meeting on March 1.
The company's board of directors approved the issue at a meeting on Jan. 24.
The company also is considering issuing Global Depositary Receipts and American Depositary Receipts.
Ankit Metal & Power, based in Kolkata, India, manufactures metals.
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