Everest Kanto to raise $ 35mln via FCCBs

New Delhi, Oct 3 (UNI) Gas cylinder maker Everest Kanto Cylinder Ltd today said it will raise 35 million dollars through Foreign Currency Convertible Bonds (FCCBs).

The company will utilise the fund for importing plant and machinery for its operations in India, for making investments in its subsidiaries and for acquisitions outside the country.

The fund will be raised with the applicable guidelines issued by the RBI and the Government of India. The bonds will be convertible into the company ordinary shares, quoted in Indian rupees.

UNI