India's Electrosteel to sell up to Rs. 5 billion of convertibles, stock

New York, Feb. 21 - Electrosteel Castings Ltd. said its shareholders have backed the issuance of up to Rs. 5 billion of foreign currency convertible bonds, Global Depositary Receipts, stock, convertible bonds or other equity, convertible or equity-linked securities.

Approval was given at an ordinary general meeting on Monday.

Electrosteel Castings is a Kolkata, India, maker of water and sewer pipes.

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