Allotment of USD 10,000,000 8% Senior Unsecured Foreign Currency COnvertible Bonds Due 2029 of the Company.
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Sudarshan Pharma Industries has allotted 10,000 Foreign Currency Convertible Bonds (FCCBs) worth USD 10 million to subscribers. Each bond has a face value of USD 1,000 with an 8% coupon rate, maturing in 2029. The bonds are convertible into equity shares of the company at a price of Rs. 30.19 per share. The company also has an option to issue an additional USD 10 million of bonds on the same terms within 60 days. The bonds will be credited to subscribers on May 21, 2026, subject to receipt of funds and regulatory compliance.
Existing shareholders face potential dilution when bondholders convert their FCCBs into equity shares at Rs. 30.19. The foreign currency denomination adds currency risk exposure for investors.