S. Kumars board OKs up to Rs. 135 million convertibles issue

By Jennifer Chiou

New York, Oct. 17 - India's S. Kumars Nationwide Ltd. informed the Bombay Stock Exchange that its board authorized an up to Rs. 135 million issue of fully convertible debentures.

The Mumbai, India-based maker of fabrics used in uniforms, suits, bed linens and other textile products said the meeting took place on Oct. 16.

The 0% debentures will be convertible until maturity, 18 months after the issue date.

The issue is subject to approval at a Nov. 9 shareholders' meeting.

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