Indian convertible bond issues seen gathering pace

Newswire

By Annapurni Hariharan BOMBAY, April 29 (Reuters) - Indian companies, as they gear up to increase output to feed a galloping economy, are lining up convertible debt issues for funds to take advantage of low interest rates and the past year's stock market surge. Companies including Tata Motors and Reliance Energy have already sold more than $1.1 billion of convertible debt so far in 2004, and merchant bankers say $1 billion more is in the pipeline to hit the market over the next few ...

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