Prithvi Info allots $ 50 mln FCCBs to Lehman

New Delhi, Feb 26 (UNI) Software company Prithvi Information Solutions Ltd today said it has allotted zero coupon FCCBs worth 50 million dollar to Europe-based Lehman Brothers International.

The bonds, each valuing 1,00,000 dollar, will be due for redemption in 2012 and is convertible at a price of Rs 469.13 each.

The proceeds of the FCCB issue will be utilised for the purpose of overseas acquisitions, company's Managing Director V Satish Kumar said.

''We have already identified a few companies for acquisition and are about to complete few of them, subject to detailed due diligence,'' Mr Kumar said.

The company is in talks with three boutique companies in the US and one in the Europe, across the enterprise solutions, manufacturing, healthcare and insurance verticals. All the companies identified will have facilities for operations in India.

Prithvi Info provides a wide range of IT solutions services to firms engaged in business consulting, manufacturing, e-Governance, banking and financial services, embedded technology, retail, high-tech start ups, telecom and healthcare.

UNI