Ramsarup plans to issue $250 million foreign currency convertibles

By Devika Patel

Knoxville, Tenn., Aug. 13 - Ramsarup Industries Ltd. informed the Bombay Stock Exchange that it approved plans to issue up to $250 million, or Rs. 11.5 billion, in foreign currency convertible bonds at a board of directors meeting on Aug. 13.

The company also is considering other convertible instruments.

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

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