Announced Fri, 3 Jul · 21:11 IST
Board approves USD 100 million FCCB issue at 15 percent discount
Fund Raising View source PDF
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AI summary
Board approved unsecured FCCBs worth USD 100 million (about Rs 952 crore), issued at 15 percent discount for USD 85 million. Coupon is 2 percent per annum with maturity in July 2031. Conversion price set at INR 3.60 per share, potentially creating about 264.56 crore new equity shares.
Likely market impact
Significant equity dilution risk with around 264 crore new shares possible at low conversion price. Issuance raises foreign capital but may pressure stock.