Nirma seeks approval for convertible bonds, debentures

By Devika Patel

Knoxville, Tenn., Feb. 14 - Nirma Ltd. informed the Bombay Stock Exchange that it will seek shareholder approval to issue convertible bonds and debentures in a postal ballot.

The company's board of directors approved up to $500 million in bonds at a meeting on Jan. 29.

Other securities being considered include Global Depositary Receipts and American Depositary Receipts.

Based in Ahmedabad, India, Nirma manufactures various types of detergents.

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