KSL raises USD 80 mn via FCCB for textiles expansion
Mumbai, May 22 (UNI) KSL Realty and Infrastructure, a Saurabh Kumar Tayal enterprise, today announced it has successfully placed an offering of USD 80 million through issue of Foreign Currency Convertible Bonds (FCCB). The issue closed on May 18.
The bonds have been listed on the Singapore Stock Exchange on May 21.
The net proceeds of the issue of bonds will be utilized for the capital expenditure for expansion of textile business.
Mr
Saurabh
Kumar
Tayal,
chairman
of
KSL
Realty
and
Infrastructure,
said,
''The
successful
launch
of
the
FCCB
indicates
the
confidence
of
international
investors
in
the
growth
opportunities
and
the
management
of
our
company.
The
money
raised
by
the
FCCB
will
enable
us
to
increase
our
productivity
and
profitability.''
UNI