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Ankit Metal shareholders OK issue of up to $300 million convertibles
By Jennifer Chiou
New York, March 3 - Ankit Metal & Power Ltd. informed the Bombay Stock Exchange that its shareholders authorized the issue of up to $300 million of foreign currency convertible bonds at an extraordinary general meeting on March 1.
As already reported, 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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