Bihar Tubes approves proposal to raise up to $20 million in convertibles

By Devika Patel

Knoxville, Tenn., Aug. 3 - Bihar Tubes Ltd. notified the Bombay Stock Exchange that its board has approved plans to raise up to $20 million in convertibles.

The proposal was approved unanimously at a board meeting on Monday.

Securities may include global depository receipts and convertibles.

New Delhi, India-based Bihar Tubes manufactures and exports steel products.

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