Rolta board OKs up to $150 million foreign-currency convertibles

By E. Janene Geiss

Philadelphia, Nov. 29 - The board of Rolta India Ltd. has authorized plans to issue up to $150 million of foreign-currency convertible bonds at a meeting on Nov. 28, according to a company release.

The company also is considering Global Depositary Receipts and American Depositary Receipts as alternatives.

The securities may be denominated in rupees.

Rolta is a Mumbai, India-based engineering company.

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