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Sical to raise USD 75 mn

Written by: Staff

Mumbai, Mar 16 (UNI) Sical Logistics Limited today said it will raise US 75 million dollars by way of Foreign Currency Convertible Bonds (FCCB), Global Depository Receipts (GDR) or other issues.

The company has entered into a subscription agreement with Deutsche Bank for USD 75 million through FCCB, it informed the Bombay Stock Exchange.

The FCCBs will have a maturity period of five years and the conversion price would be Rs 563.55, which is at a premium of 30 per cent over the previous closing price of Rs 433.50 on BSE on March 14.

The FCCBs will be listed on the Singapore Exchanges Securities Trading Ltd, it added.


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