Morgan Stanley,Deutsche,Goldman Sachs take 10% in CPT

Published on Tue, Jan 02, 2007 at 13:22 |  Source : Moneycontrol.com

Updated at Tue, Jan 02, 2007 at 16:31  

4561 Investors following Core Projects &. Share this News with them.
0
0
Share on Tumblr

RELATED NEWS

ALSO READ

Other Stocks in this news

Morgan Stanley Mutual Fund |

Core Projects & Technologies Limited has received conversion notices from the holders of FCCBs to the tune of Rs 397.60 million. The three allottees, Morgan Stanley, Deutsche Bank and Grants Investments Ltd, (an investment arm of Goldman Sachs) have thereby taken a 10% stake in the company

 

Morgan Stanley has the largest share at 4.03%, while Grants has taken a 3.46% stake and Deutsche Bank has 2.59%.

 

Following this development, FCCBs of the value of Rs 159.04 million still remain for conversion. Core Projects issued 1,225 Foreign Currency Convertible Bonds of US $10,000 each on November 13. The FCCB issue was successfully closed and the bonds have been listed on the Singapore Stock Exchange.

 

"The conversion of FCCBs into shares shows the confidence of the investors in the business plan of the company. We welcome our new partners wholeheartedly," said Mr Sanjeev Mansotra, Chairman and Managing Director, Core Projects and Technologies Limited.

 

The FCCB issue proceeds and various internal resources have put together a kitty of about Rs 1 billion (Rs 100 crore) for Core Projects. The company plans to utilize these funds to acquire companies in the USA and UK.

 

Contd on page 2....

  

Trending News

Business News

Sony to roll-out ICS update next week, Xperia PLAY gets the boot
Reebok execs named in Rs 870 cr fraud denied anticipatory bail "Reebok execs named in Rs 870 cr fraud denied anticipatory bail"

Live Updates: KKR favourites in last-over battle

Rel Comm Q4 Cons Net Revenue Up 5% At `5,310 Cr (QoQ)

The latest earning numbers FIRST on CNBC-TV18
Videos

May 25 2012, 22:26

NHPC posts profit amid capacity addition, delay woes

- in Results Boardroom

Interviews

May 27 2012, 11:52 | Source: CNBC-TV18

Expect to maintain EBIDTA margin ahead: Wockhardt  

May 27 2012, 11:00 | Source: CNBC-TV18

e-commerce market in India: What's in store?  

Subscribe to

Moneycontrol Newsletters

Moneycontrol.com offers you a choice of various sectoral and other newsletters for FREE!