Kamat announces new conversion price for $18 million 5.5% convertibles

By Devika Patel

Knoxville, Tenn., June 11 - Kamat Hotels (India) Ltd. informed the Bombay Stock Exchange that it approved plans to revise the conversion price of its $18 million in 5.5% foreign currency convertible bonds at an extraordinary general meeting on June 10.

The convertibles were issued in March 2007. The Mumbai, India, hotel and restaurant chain said the new conversion price will be Rs. 135 per share.

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