Rishabhdev Technocable may issue up to Rs. 1 billion convertibles

By Susanna Moon

Chicago, Oct. 21 – Rishabhdev Technocable Ltd. plans to raise up to Rs. 1 billion through the issue of foreign-currency convertible bonds, foreign-currency equity bonds, QIP, warrants, private placements and/or Global Depository Receipts.

The company informed the Bombay Stock Exchange that its board of directors approved the issue at its meeting held Tuesday.

The company also lifted the borrowing cap to Rs. 2 billion from Rs. 1 billion.

Rishabhdev Technocable is a Mumbai, India-based company that manufactures and sells cables and wires.

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