India's Kanishk Steel to offer up to Rs. 2 billion in convertibles

By Devika Patel

Knoxville, Tenn., Oct. 31 - Kanishk Steel Industries Ltd. informed the Bombay Stock Exchange it has approved plans to issue up to Rs. 2 billion in convertibles at an annual general meeting on Sept. 29.

Other securities being considered are equity shares, Global Depositary Receipts, American Depositary Receipts or any other security linked to equity shares with or without warrants.

Nethimedu, India-based Kanishk Steel manufactures TMT bars and structurals.

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