KS Oils to issue FCCBs/GDRs worth $20mn in int'l market

New Delhi, Aug 14: KS Oils Ltd, an integrated edible oil manufacturing company today said it will issue Foreign Currency Convertible Bonds (FCCBs)/Global Depository Receipts (GDRs) or other instruments, in the international markets amounting up to 20 million dollars.

''The company will issue any other form of receipts or instruments or securities convertible into equity shares in the international markets upto 20 million dollars or equivalent thereof, subject to necessary permissions, sanctions, approvals and applicable provisions of law,'' a company statement said.

K S Oils will convene its Extraordinary General Meeting (EGM) on September 15, 2006, for obtaining approval of members for the issuance of these instruments.

This was decided at the company's meeting held on 12 August, 2006.

Besides, the company will also allot 107,100 equity shares of Rs 10 each at premium of Rs 215 per share as forfeited earlier.

Meanwhile, the Board has deferred the allotment of 9 lakh equity shares on a preferential basis to promoters and others as per the SEBI (DIP) guidelines, 2000, till the next board meeting to be held on 19 August, 2006 for the purpose.

UNI