India's Gujarat NRE Coke board mulls $100 million convertibles issue

By Toni Weeks

San Luis Obispo, Calif., April 24 - Gujarat NRE Coke Ltd. informed the Bombay Stock Exchange that its board of directors will consider at a meeting on April 29 the issuance of foreign-currency convertible bonds.

According to a notice, the bond issuance will not exceed $100 million or Rs. 5.5 billion, whichever is higher.

The board will also consider making investments or loans or giving guarantees or security in excess of the limits under section 372A of the Companies Act of 1956.

Gujarat NRE Coke is a Kolkata, India, cola maker.

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