Rolta India surges as its wholly owned subsidiary raises $300 million

18 Jul 2014

Rolta India is currently trading at Rs 110.80, up by 4.50 points or 4.23% from its previous closing of Rs 106.30 on the BSE.

The scrip opened at Rs 106.45 and has touched a high and low of Rs 111.40 and Rs 106.20 respectively. So far 366664 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 121.80 on 07-Jul-2014 and a 52 week low of Rs 53.00 on 02-Aug-2013.

Last one week high and low of the scrip stood at Rs 113.40 and Rs 103.50 respectively. The current market cap of the company is Rs 1776.23 crore.

The promoters holding in the company stood at 50.54% while Institutions and Non-Institutions held 19.26% and 29.19% respectively.

Rolta India’s wholly owned subsidiary, Rolta Americas LLC, has successfully priced 8.875% Senior Notes in the international markets, aggregating to $300 million. This offering was oversubscribed by more than 8 times with order book of over $2.4 billion with demand from a high quality investor base (over 200 accounts globally), split among asset managers (79%), banks (12%), and others (9%). The offering was well-subscribed across geographies, with Asia contributing to 47% of the demand, US contributing to 35% of the demand and European investors accounted for 18% of demand.

The notes have tenure of 5 years and are guaranteed by the company and its key subsidiaries. The notes have been rated as S&P: BB- / Fitch: BB-. The proceeds from the notes will be used for refinancing existing debt, to meet working capital requirements and for general corporate purposes. The notes will be listed on the Singapore Exchange Securities Trading (SGX-ST).

Barclays and Citigroup, acted as the Joint Lead Managers to the Notes offering. DLA Piper and Davis Polk Wardwell were US counsels to Rolta and to the Joint Lead Managers, respectively. Trilegal advised the Joint Lead Managers on matters of Indian law.


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