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Sumeet Industries aims to issue up to Rs. 600 million of convertibles
By Devika Patel
Knoxville, Tenn., Feb. 25 - Sumeet Industries Ltd. informed the Bombay Stock Exchange that it approved plans to issue up to Rs. 600 million of foreign currency convertible bonds at an extraordinary general meeting on Feb. 25.
The company also is considering equity shares, non-convertible debentures, warrants and securities linked to equity shares.
Surat, India's Sumeet makes polyester chips, polyester filament yarn, polyester pre-oriented yarn, fully drawn yarn, polypropylene yarn and menthol products.
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