Announced Thu, 9 Jul · 13:44 IST
Board allots USD 100M FCCBs at 15 percent discount, 2 percent coupon
Fund Raising View source PDF
DAVANGERE · price
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Price reaction · full curve 14 horizons · vs prior close
-2.0%1-day move
₹3.57
prior close
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AI summary
Davangere Sugar's board allotted 1,000 unsecured Foreign Currency Convertible Bonds (FCCBs) at USD 100,000 each, totaling a USD 100 Million issue size, after receiving USD 85 Million in subscription money. Bonds carry a 2 percent annual coupon, mature on 9th July 2031 (5 year tenure), and were issued at 15 percent discount to issue price. Allotment completed.
Likely market impact
USD 100M raised via convertible bonds at low 2 percent coupon. May dilute equity if converted. Positive for capital raising, modest EPS dilution risk.