IOL Broadband to raise Rs 231 cr via FCCBs
City-based IOL Broadband Ltd has said it will raise over Rs 231 crore (nearly $50 million) through the issue of Foreign Currency Convertible Bonds (FCCBs) or other securities.
By PTI |
MUMBAI: City-based IOL Broadband Ltd has said it will raise over Rs 231 crore (nearly $50 million) through the issue of Foreign Currency Convertible Bonds (FCCBs) or other securities.
At a recently held meeting, the board approved the proposal to raise funds through the issue of FCCBs, GDRs or ADRs, the company informed the Bombay Stock Exchange.
A decision to issue 16 lakh equity shares of Rs 10 each on a preferential basis to specified investors (non promoters) was approved at the meeting as well. The shares would be issued at a price of Rs 89 per share in one or more tranches, subject to necessary approvals.
An increase in the company's authorized share capital to Rs 50 crore from Rs 30 crore was also given a nod by the board. PTI ABZ HK 09041809 DEL
At a recently held meeting, the board approved the proposal to raise funds through the issue of FCCBs, GDRs or ADRs, the company informed the Bombay Stock Exchange.
A decision to issue 16 lakh equity shares of Rs 10 each on a preferential basis to specified investors (non promoters) was approved at the meeting as well. The shares would be issued at a price of Rs 89 per share in one or more tranches, subject to necessary approvals.
An increase in the company's authorized share capital to Rs 50 crore from Rs 30 crore was also given a nod by the board. PTI ABZ HK 09041809 DEL
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