Flex Industries raises $85 mn through forex bonds

Mumbai: Flex Industries said on 22 March it has raised $85 million through the issue of foreign-currency convertible bonds (FCCBs) in international markets.

The company raised $13 million through FCCBs, exercising an over-allotment option, in addition to $72 million that it raised earlier this month, Flex Industries informed the Bombay Stock Exchange.

“With this, the FCCB issue totalling $85 million has now been successfully completed," it added.

UK-based Elara Capital Plc was the lead manager to the issue.

The company also said its Board of Directors would consider the proposal for payment of interim dividend to shareholders on 28 March.

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