Shree Ashtavinayak Cine Vision issues Rs 132 cr FCCBs

Mumbai, Dec 26: Shree Ashtavinayak Cine Vision today said that it has issued Rs 132 crore (USD 33 million) of Foreign Currency Convertible Bonds (FCCBs) with an option to raise an additional USD 5 million.

The bonds have a maturity of five years, which is due in the year 2012, and the proceeds of the issue will be utilised for production of movies and purchase of IPR of movies outside India, the Firm said in a release. The underlying equity shares on conversion will be listed on the BSE and the NSE. The FCCBs will be listed on the Singapore Stock Exchange, the release added.

UNI