Bhagyanagar to sell $50 million of foreign currency convertible bonds

By Devika Patel

Knoxville, Tenn., Aug. 8 – Bhagyanagar India Ltd. informed the Bombay Stock Exchange that it approved plans to issue $50 million of foreign currency convertible bonds at a board of directors meeting on Aug. 8.

The company also is considering Global Depository Receipts, American Depository Receipts and optionally or compulsorily convertible redeemable preference shares.

Principally engaged in manufacturing copper products and cables, Hyderabad, India-based Bhagyanagar also develops real estate and infrastructure.

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