Responsive Industries approves Rs. 700 million issue of convertibles

By Devika Patel

Knoxville, Tenn., March 5 - Responsive Industries Ltd. informed the Bombay Stock Exchange that it approved plans to issue Rs. 700 million in 0% compulsorily convertible debentures at a board of directors meeting on March 3.

The debentures will be convertible into 1.4 million shares at Rs. 510 per share. They will be offered in Rs. 100,000 increments.

Responsive Industries is a Mumbai, India-based vinyl flooring, soft sheeting, rigid poly vinyl chloride and leather cloth manufacturer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.