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Rolta India raises $150 mn in global market

Rolta India raises $150 mn in global market
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First Published: Fri, Jun 22 2007. 11 24 AM IST
Updated: Fri, Jun 22 2007. 11 24 AM IST
PTI
Mumbai: Rolta India said on 22 June it has raised $150 million (Rs600 crore) through the issue of foreign currency convertible bonds (FCCBs) in international markets.
The company would issue 1,500 FCCBs of $1,00,000 each. The FCCBs are expected to be listed in Singapore, the company informed the Bombay Stock Exchange.
Rolta India chairman and managing director Kamal K Singh said the support and confidence of international institutional investors in Rolta’s business will strengthen the company’s global operations .
Conversion price for the FCCBs is Rs737.40 per share, which is at a premium of 50% over the 21 June closing of the company’s share on National Stock Exchange.
The company has entered into subscription agreement with the arrangers and bookrunners, Lehman Brothers International (Europe).
Rolta India is engaged in the provision of computer-aided designing (CAD), computer-aided manufacturing (CAM), geo-spatial information system (GIS) solutions, e-business and other information technology (IT) -related services.
Shares of the company were trading at Rs474.40, down 3.54% on BSE in early morning trade.
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First Published: Fri, Jun 22 2007. 11 24 AM IST
More Topics: Rolta | FCCB | Corporate News | Sector Spotlight |