Granules India board approves possible $20 million convertibles issue

By Laura Lutz

Des Moines, Nov. 10 - Granules India Ltd. announced that its board of directors approved the issue of up to $20 million of convertible securities, global depositary receipts, American depositary receipts or foreign-currency convertible bonds.

The approval was given at a Nov. 9 board meeting. The offering still requires shareholder approval.

Granules is a pharmaceutical company based in Hyderabad, India.

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