India's Amar Remedies approves up to $60 million in convertible bonds

By Devika Patel

Knoxville, Tenn., April 26 - Amar Remedies Ltd. informed the Bombay Stock Exchange that its board of directors approved plans to issue up to $60 million in foreign-currency convertible bonds at a meeting on Saturday.

The company also is considering Global Depositary Receipts, American Depositary Receipts, compulsory convertible debentures, non-convertible debentures and warrants.

Based in Mumbai, India, Amar manufactures toothpaste.

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