Usher Agro hopes to issue up to Rs. 1 billion in convertible debentures

By Devika Patel

Knoxville, Tenn., Jan. 17 - Usher Agro Ltd. informed the Bombay Stock Exchange that it approved plans at an annual general meeting on Dec. 15 to issue up to Rs. 1 billion in compulsory fully convertible debentures.

As previously reported, 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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