Advanta announces launch of USD 50m FCCBs

Advanta India Ltd has informed BSE that the Issue and Allotment Committee of the Company, ("Committee"), authorized the launch of the offering of unsecured foreign currency Convertible Bonds aggregating to US$ 50 Million, ("FCCBs"), 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, amending the Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993, ("Notification"), is Rs. 257.13 per equity share of Rs. 10/-each of the Company, ("Equity Share"), and the relevant date for this purpose, in terms of the Notification, is June 30, 2011.Source : BSE

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