Liquor firm Pincon Spirit has received its board’s approval to raise up-to $30 million through issue of foreign currency convertible bonds (FCCBs). The company’s board gave approval for the same at its meeting held on January 7, 2017. However, the company did not specify the end use of funds it plans to raise. A foreign currency convertible bond is a type of convertible bond issued in a currency different than the issuer's domestic currency.
Pincon Spirit is engaged in the business of Blending, Bottling and Wholesale Distribution of Indian Made Foreign Liquor (IMFL) Products viz. Rum, Whisky, Vodka, Brandy and Beer (alcoholic beverage).
