NEPC India's board OKs $150 million in convertibles

By Devika Patel

Knoxville, Tenn., Aug. 30 - NEPC India Ltd. informed the Bombay Stock Exchange that its board members have approved plans to raise up to $150 million in convertibles.

The members approved the proposal at a board meeting held on Aug. 21.

Securities may include Global Depositary Receipts and convertible bonds.

The company also hopes to issue up to 30 million convertible warrants. Board members will vote on that proposal at a general meeting slated for Sept. 29.

Chennai, India-based NEPC India manufactures wind energy equipment.

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