Bilpower shareholders to consider convertibles offering for $25 million

By Laura Lutz

Des Moines, Jan. 8 - Bilpower Ltd. plans to convene an extraordinary general meeting of its shareholders to consider an issue of convertibles to international investors for up to $25 million, among other measures.

The offering would include foreign currency convertible bonds, American depositary receipts, global depositary receipts or other convertible securities. Investors could be non-Indian institutions, corporations or individuals.

The company's board considered the offering at a meeting on Dec. 15.

Based in Mumbai, Bilpower manufactures power distribution products.

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