KSL raises USD 80 mn via FCCB for textiles expansion

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Mumbai, May 22 (UNI) KSL Realty and Infrastructure, a Saurabh Kumar Tayal enterprise, today announced it has successfully placed an offering of USD 80 million through issue of Foreign Currency Convertible Bonds (FCCB). The issue closed on May 18.

The bonds have been listed on the Singapore Stock Exchange on May 21.

The net proceeds of the issue of bonds will be utilized for the capital expenditure for expansion of textile business.

Mr Saurabh Kumar Tayal, chairman of KSL Realty and Infrastructure, said, ''The successful launch of the FCCB indicates the confidence of international investors in the growth opportunities and the management of our company. The money raised by the FCCB will enable us to increase our productivity and profitability.'' UNI

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