XL Telecom & Energy to raise up to $40 million in convertibles

By Devika Patel

Knoxville, Tenn., Aug. 16 - XL Telecom & Energy Ltd. notified the Bombay Stock Exchange that it may raise up to $40 million in convertibles.

The company held a board meeting on Thursday to approve the proposal.

Proceeds will be used to expand the company's solar photovoltaic module making plant and establish a solar photovoltaic cell manufacturing plant.

XL Telecom & Energy, formerly XL Telecom Ltd., is a Secunderabad, India-based telecom, solar photovoltaic and ethanol company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.