India's Educomp OKs up to $500 million in convertibles

By Devika Patel

Knoxville, Tenn., April 23 - Educomp Solutions Ltd. informed the Bombay Stock Exchange that it approved plans to issue up to $500 million in foreign currency convertible bonds at a board of directors meeting on April 23. The company will now seek shareholder approval for the issue via a postal ballot.

The company also is considering Global Depositary Receipts, American Depositary Receipts and equity shares.

New Delhi-based Educomp develops computer-based teaching solutions.

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