Usher Agro plans to issue convertible debentures

By Devika Patel

Knoxville, Tenn., Dec. 17 - Usher Agro Ltd. informed the Bombay Stock Exchange that it approved plans to issue fully convertible debentures at an annual general meeting on Dec. 15.

The debentures will be convertible into or exchangeable with equity shares at Rs. 75 per equity share.

Mumbai, India-based Usher Agro produces non-basmati rice under the brand name of Rasoi Raaja. It also produces raw white rice, par-boiled rice and steam rice of different grades of both basmati and non-basmati rice.

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