Transworld Infotech OKs plan to sell up to $300 million in convertibles

By Devika Patel

Knoxville, Tenn., Dec. 6 - Transworld Infotech Ltd. informed the Bombay Stock Exchange that it plans to issue up to $300 million in convertibles with a 15% over-allotment option.

The company approved the proposal at a board of directors meeting on Dec. 5. It will hold an annual general meeting to vote on the plan on Dec. 31.

The company also is considering issuing Global Depositary Receipts.

Mumbai, India-based Transworld Infotech is an information technology company.

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