India’s Siti Networks board to mull raising funds, issuing convertibles

By Tali Rackner

Norfolk, Va., Aug. 23 – Siti Networks Ltd. informed the Bombay Stock Exchange that its board of directors will meet on Friday to consider raising funds through the issuance of securities.

The debt will be issued through private placement, qualified institutions placement, external commercial borrowings with rights of conversion into equity shares, foreign-currency convertible bonds, American Depository Receipts, Global Depository Receipts or any other securities convertible into or exchangeable for equity shares or securities linked to equity shares.

Siti Networks is a cable television company based in Noida, India.

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