India's Ramsarup may issue up to $50 million foreign-currency convertibles

By Angela McDaniels

Seattle, Jan. 16 - Ramsarup Industries Ltd. plans to issue up to $50 million of foreign-currency convertible bonds, American Depositary Receipts or Global Depositary Receipts through the European Central Bank, according to a notice filed with the Bombay Stock Exchange.

The company's board of directors approved the offering during its meeting on Monday and will seek shareholder approval during an extraordinary general meeting.

Ramsarup manufactures wires and thermo-mechanically treated bars and is based in Calcutta, India.

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