Ashok Alco may issue up to Rs. 2.5 billion in convertibles, debentures

By Devika Patel

Knoxville, Tenn., Sept. 15 - Ashok Alco Chem Ltd. notified the Bombay Stock Exchange that it approved plans to issue up to Rs. 2.5 billion in foreign currency convertible bonds at a board of directors meeting on Aug. 30.

The company also is considering an issue of equity shares, preference shares or non-convertible debentures.

Ashok Alco is an organic chemicals company based in India.

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