Pincon Spirits to raise up to $30 million via FCCBs
Liquor firm Pincon Spirits says its board has approved raising of up to $30 million (approx Rs200 crore) through issue of foreign currency convertible bonds
New Delhi: Liquor firm Pincon Spirits on Saturday said its board has approved raising of up to $30 million (approx Rs200 crore) through issue of foreign currency convertible bonds (FCCBs).
“The Board of Directors of the company...have discussed and approved issue of foreign currency convertible bonds for an amount not exceeding $30 million,” Pincon Spirits said in a filing to BSE.
However, the company did not specify the end use of funds it plans to raise.
A foreign currency convertible bond is a type of convertible bond issued in a currency different than the issuer’s domestic currency.
Editor's Picks »
- India to put former top climate change official Rajendra Pachauri on trial for sexual harassment
- Rahul Gandhi hits out at KCR, claims Telangana reeling under debt
- Deve Gowda-Siddaramaiah display rare bonhomie ahead of Karnataka by-polls
- Govt allocates Rs 144 crore to AYUSH ministry for alternative medicines
- Esperanto, A language whose time never came
- Policy rethink and higher volumes to aid container shippers
- DCB Bank delivers a strong Q2 but pressure on margins foreseen
- Havells India: Rising costs give a jolt to profitability in September quarter
- All’s well at Mindtree, except for high client concentration risk
- India’s rising steel demand is making companies starry-eyed