Kew Industries shareholders OK possible convertibles offering for Rs. 450 million

By Laura Lutz

Washington, Feb. 22 - Kew Industries Ltd. shareholders approved the issue of up to Rs. 450 million of convertibles or other securities.

The offering could include global depositary receipts, American depositary receipts, foreign currency convertible bonds, equity shares, convertible debentures, other convertibles or other securities.

The shareholders granted authority to the company's board to decide the timing and terms of the offering, which could be conducted in more than one tranche.

Kew is a manufacturing company based in Jalandhar, India.

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