Shrenuj raises FCCBs worth $ 15mln

New Delhi, Jan 30 (UNI) Shrenuj&Company Ltd has placed Foreign Currency Convertible Bonds (FCCBs) worth 15 million dollars with Europe's Lehman Brothers International, the proceeds of which will be utilised for setting up overseas offices and funding strategic acquisitions abroad.

The placement was arranged by ICICI Bank, Singapore today.

Meanwhile, the company posted 61.72 per cent increase in its net profit at Rs 15.59 crore for the third quarter ended December 2006, as against Rs 9.64 crore during the corresponding quarter last year.

The gross income of the company rose by 46.30 per cent to Rs 566.50 crore from Rs 387.21 crore, a statement said.

The growth in sales has been achieved mainly through overseas and joint ventures, subsidiaries in West Asia, Hong Kong, the US and Belgium.

UNI