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Tuesday, Jun 07, 2005
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 Corporate - Overseas Borrowings


Visaka announces $15-m issue

Our Bureau

HYDERABAD: The board of directors of Visaka Industries Ltd, at its meeting held recently, has approved issue of foreign currency convertible bonds / global depository receipts / preferential allotment of shares to the tune of $15 million with a greenshoe option of $3 million.

The company has informed the stock exchanges that the board has also decided to convene an extraordinary general meeting on June 27 to take the approval of its shareholders for the proposed issue.

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