India's Supertex Industries approves Rs. 600 million in convertibles

By Devika Patel

Knoxville, Tenn., July 13 - Supertex Industries Ltd. informed the Bombay Stock Exchange that it approved a proposal to issue up to Rs. 600 million in foreign currency convertible bonds and convertible debentures at a board of directors meeting on July 13.

The company also is considering issuing Global Depositary Receipts, American Depositary Receipts and other convertible securities.

Supertex Industries is a Silvasa, India-based textile company.

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