Suryachakra Power to raise up to $100 million from convertibles sale

By Devika Patel

Knoxville, Tenn., Feb. 29 - Suryachakra Power Corp. Ltd. informed the Bombay Stock Exchange that it approved plans to issue up to $100 million in convertibles at an extraordinary general meeting on Feb. 29.

The company also approved the proposal at a board of directors meeting Jan. 30.

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

Suryachakra is a Hyderabad, India-based power company.

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