Mefcom Agro Industries board OKs possible convertibles offering

By Laura Lutz

Washington, Dec. 13 - Mefcom Agro Industries Ltd.'s board approved plans to raise up to Rs. 1 billion from a possible convertibles offering.

The issue could include convertible debentures, convertible preference shares, foreign currency convertible bonds or new equity shares. The offering would be made to Indian and international investors including institutional buyers, mutual funds, banks, insurance companies and corporate bodies.

The approval was granted at a Dec. 13 board meeting.

Mefcom is a New Delhi, India-based food processor.

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