Zenith Computers to raise $20 mn

MUMBAI: Zenith Computers Ltd will raise $20 mn through the issue of Foreign Currency Convertible Bonds (FCCBs).

At its recently held meeting, the board of directors decided to raise the amount by way of FCCBs, the company informed the Bombay Stock Exchange.

The board also recommended a dividend of Rs 1.50 on shares of Rs 10 each (15 per cent) for the year ended March 31, it said.

The matter relating to the increase in authorised capital of the company to Rs 50 crore from Rs 32 crore was, however, deferred, it added.

Shares of the company were trading at Rs 81.10, up 0.50 per cent at the BSE.