Videocon Industries is planning to raise $97.20 million (about Rs 641 crore) through five year Foreign Currency Convertible Bonds (FCCBs) due in 2020.
The company will make an application to the Singapore Exchange Securities Trading for the Bonds to be listed; and for in-principle approval for the shares to be issued upon conversion of the Bonds to be listed on the National Stock Exchange of India and the BSE.
The company has already obtained the approval of its shareholders by a special resolution passed on June 27, 2015 for issue of the Bonds and for issue of the shares upon conversion of the Bonds. Credit Suisse is the sole bookrunner for the offering.
Videocon Industries, established two decades ago, is a global conglomerate. Videocon’s businesses consist of manufacturing, marketing and distribution of consumer electronics products and oil & gas extraction.
