Punjab Chemicals may issue up to Rs. 300 million of convertibles

By Ashley Montgomery

Kansas City, Kan., Aug. 3 - Punjab Chemicals & Crop Protection Ltd. informed the Bombay Stock Exchange that its board of directors plans to consider issuing up to Rs. 300 million of convertible securities at a meeting on Wednesday.

The purpose of this issue is to raise long-term funds. The board will also consider raising funds through the issue of equity shares and other instruments.

Punjab Chemicals is an agrochemicals, industrial chemicals and pharmaceuticals company based in Mumbai, India.

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