GVK Power shareholders approve up to $500 million convertibles issue

By Angela McDaniels

Seattle, March 21 - GVK Power & Infrastructure Ltd. received shareholder approval at an extraordinary general meeting on March 6 to issue up to $500 million of convertible securities in one or more tranches, according to a company notice filed with the Bombay Stock Exchange.

The securities may include foreign-currency convertible bonds, Global Depository Receipts, equity shares, securities with detachable warrants to convert or subscribe to equity shares, or any other security convertible into equity shares.

The securities may be issued in India or in foreign markets and may be denominated in rupees or foreign currency.

GVK Power is a Secunderabad, India-based company involved in infrastructure and power plants.

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