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Rainbow Papers approves plans for up to Rs. 3 billion in convertibles
By Devika Patel
Knoxville, Tenn., Oct. 26 - Rainbow Papers Ltd. informed the Bombay Stock Exchange that it authorized plans to issue up to Rs. 3 billion in foreign currency convertible bonds at a board of directors meeting on Oct. 24.
The company also is considering Global Depositary Receipts and American Depositary Receipts.
Based in Ahmedabad, India, Rainbow Papers makes and processes paper.
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