India's Sanra Software to sell up to $27 million of convertibles

By Susanna Moon

Chicago, Sept. 2 - Sanra Software Ltd. said it informed the Bombay Stock Exchange that it will sell up to $27 million of foreign-currency convertible bonds.

Securities also may include Global Depositary Receipts and American Depositary Receipts.

The issue was decided at a board meeting on Sept. 1 and is subject to shareholder approval.

The company also said it plans to raise up to Rs. 2 billion to accelerate synergies of its existing business as well as for potential acquisitions.

Sanra is a Chennai, India-based media technology company.

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