Ruchi Infra raises US$ 40 mn via Zero Coupon FCCB SBICAP(UK) Ltd

Mumbai, Feb 21 (UNI) SBICAP (UK) Ltd, the wholly owned subsidiary of SBI Capital Markets (SBICAP) has successfully concluded a USD 40 million Zero Coupon Foreign Currency Convertible Bond (FCCB) issue for Ruchi Infrastructure Ltd.

SBICAP (UK) was the sole lead manager for the issue. Ruchi Infrastructure Ltd is a part of Ruchi Group of Industries. The tenure of the FCCBs is 5 years and 1 day. The bonds will be listed on the Singapore Stock Exchange.

In a statement, Mr Dinesh Shahra, Director, Ruchi Infrastructure Ltd here today said,''We will utilise the amount raised through FCCBs for meeting our expansion objectives. SBI Capital Markets has been a reliable partner, advising us on critical areas of our business growth. We are thankful to them for providing us support and successfully handling our FCCB issue''.

Ruchi Infrastructure Ltd is one of the leading providers of storage tanks to store edible oils and other chemicals and has a network of storage terminals at key ports and inland locations. The company plans to invest the FCCB issue proceeds amounting to approximately Rs 180 cores for the expansion of its storage terminal network, setting up agri-warehouses and windmills.

UNI