Polygenta Technologies might issue up to Rs. 220 million convertibles

By Tali David

Minneapolis, March 23 - Polygenta Technologies Ltd.'s board of directors recommended holding an extraordinary general meeting at which the issuance of compulsory convertible preference shares will be considered, according to a filing with the Bombay Stock Exchange.

The up to 22 million convertibles would have a nominal face value of Rs. 10 each and be convertible into equity shares.

Polygenta Technologies is a Mumbai-based producer of multi-filament polyester textured yarn.

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