Richa Knits forgoes convertibles issue

By Devika Patel

Knoxville, Tenn., Aug. 16 - Richa Knits Ltd. notified the Bombay Stock Exchange that it has decided to defer its plans to issue convertibles.

The company held a board meeting on Thursday to vote on the proposal.

Richa Knits is a Gurgaon, India-based knitted fabric and readymade garments manufacturer.

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