India's Rajesh Exports may issue up to $150 million of convertibles

By Angela McDaniels

Seattle, Dec. 28 - Rajesh Exports Ltd. may issue foreign-currency convertible bonds, Global Depositary Receipts and/or American Depositary Receipts convertible into equity shares or warrants convertible into depositary receipts with underlying equity shares, according to a company news release.

The company plans to issue up to the equivalent of $150 million of the securities in Indian rupees or any other currency.

The Bangalore, India-based manufacturer and exporter of gold jewelry will seek approval of the issue at an extraordinary general meeting on Jan. 20.

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