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Shri Lakshmi approves proposal to issue foreign-currency convertibles
By Devika Patel
Knoxville, Tenn., April 8 - Shri Lakshmi Cotsyn Ltd. informed the Bombay Stock Exchange that it approved plans to issue foreign-currency convertible bonds at a board of directors meeting on April 8.
The company also is considering Global Depositary Receipts and American Depositary Receipts.
Proceeds will be used to fund the cost of expansion projects.
Shri Lakshmi Cotsyn is a Kanpur, India-based textile company.
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