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FCCBs fetch $75 million for Welspun Gujarat
09 Nov '05
1 min read
Welspun Gujarat Stahl Rohren Limited has raised $75 million by foreign currency convertible bonds (FCCB) offerings, said B.K.Goenka, Vice Chairman and Managing Director of Welspun Gujarat.
Having a term of five years, the zero coupon bonds can be converted into equity shares at a premium of 60 percent, company informed the BSE.
The company received commitments for FCCBs from investors across the world from Asia, Europe and US.
Goenka added that the pricing and commitments have been received at such economical rates that they represent a significant milestone for Welspun Gujarat.
Welspun Gujarat is a leading manufacturers of towels, bathrobes, textiles and home furnishing in India.
Having a term of five years, the zero coupon bonds can be converted into equity shares at a premium of 60 percent, company informed the BSE.
The company received commitments for FCCBs from investors across the world from Asia, Europe and US.
Goenka added that the pricing and commitments have been received at such economical rates that they represent a significant milestone for Welspun Gujarat.
Welspun Gujarat is a leading manufacturers of towels, bathrobes, textiles and home furnishing in India.
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