Birla Cotsyn approves $25 million in foreign currency convertibles

By Devika Patel

Knoxville, Tenn., Oct. 27 - Birla Cotsyn (India) Ltd. informed the Bombay Stock Exchange that it approved plans at a board of directors meeting on Oct. 27 to issue up to $25 million in foreign currency convertible bonds.

The company also is considering Global Depositary Receipts and American Depositary Receipts.

Birla Cotsyn is a Mumbai, India-based manufacturer of synthetic blended ring spun yarn.

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