Great Offshore to raise Rs 200 cr through FCCB

New Delhi, Aug 2: Great Offshore Ltd yesterday said it will raise up to Rs 200 crores through the issue of Foreign Currency Convertible Bonds (FCCBs).

Great Offshore also said in a statement that it will issue 1,500,000 redeemable preference shares of Rs 1,000 each to Exim Bank of India Ltd with the option of converting it into equity shares at a price of Rs 875 per share (Rs 10 face value).

The company has also decided to increase the investment limit by FIIs either by way of acquisition of Equity Shares under Portfolio Investment Scheme from the existing 24 per cent of the issued and paid-up equity capital to 49 per cent.

UNI