India's Bilcare decides to issue up to $50 million of foreign currency convertible bonds

By Rebecca Melvin

Princeton, N.J., Dec. 2 - India's Bilcare Ltd. said its board of directors has decided to issue up to $50 million of foreign currency convertible bonds.

The board approved the move Friday following approval of its members at the Oct. 21 extraordinary general meeting of the company, according to a press release.

Based in Ahmedabad, in India's Gujarat state, Bilcare is a pharmaceutical packaging company.

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