Advanta India’s Issue and Allotment Committee authorized the launch of the offering of unsecured foreign currency convertible bonds (FCCBs) aggregating to $50 million on June 30, 2011.
The committee has adopted the floor price in respect of the conversion of the FCCBs, based on the pricing formula as prescribed by the Ministry of Finance, Government of India, pursuant to its circular dated November 27, 2008, is Rs 257.13 per equity share of Rs 10 each of the company.
Advanta India is associate company of United Phosphorus. It is engaged in providing crop solution for crops like rice, sunflower, maize, millets and mustard.
