Brushman India sets meeting for possible $35 million convertibles issue

By Devika Patel

Knoxville, Tenn., Nov. 14 - Brushman India Ltd. informed the Bombay Stock Exchange that it plans an extra ordinary general meeting on Dec. 5 to discuss plans to issue up to $35 million in convertibles. The proposal was approved at a board of directors meeting held Oct. 31.

Other securities being considered are Global Depositary Receipts, American Depositary Receipts, qualified institutional placements, preferential allotments, preference shares or any other security linked to equity shares or preference shares.

New Delhi-based Brushman India makes paintbrushes.

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