Gulf Oil hopes to issue $100 million in convertibles

By Devika Patel

Knoxville, Tenn., Sept. 25 - Gulf Oil Corp. Ltd. notified the Bombay Stock Exchange that it approved plans at an annual general meeting on Sept. 25 to raise up to $100 million in foreign currency convertible bonds.

Securities also may include Global Depositary Receipts and American Depositary Receipts.

Gulf Oil is a Hyderabad, India-based manufacturer of explosives, building products and lubricating oils.

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