Sarang Chemicals weighs proposal to offer $700 million in convertibles

By Devika Patel

Knoxville, Tenn., Aug. 24 - Sarang Chemicals Ltd. informed the Bombay Stock Exchange that it will consider plans to issue up to $700 million in foreign currency convertible bonds at a board of directors meeting on Aug. 31.

The company also is considering Global Depositary Receipts and American Depositary Receipts or other securities.

Sarang is an Ankleshwar, India-based inorganic chemical company.

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