Sintex Industries allots $140 million 7.5% step down FCCBs at Rs 75.60 each

Sintex Industries, pursuant to the resolution passed by the Security Issue and Allotment Committee on November 28, 2012, has allotted $140 million 7.5% step down Foreign Currency Convertible Bonds (FCCB) due 2017, convertible into fully paid up equity shares of the company at Rs 75.60 each.

These FCCBs will be listed on the Singapore Exchange Securities Trading and are being utilized towards redemption or prepayment of the foreign currency convertible bonds issued in 2008.

Sintex Industries (earlier known as The Bharat Vijay Mills has two divisions - textiles and plastics.