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Last Updated : Apr 22, 2019 07:48 PM IST | Source: PTI

Deepak Fertilisers to raise up to $60 mn through debt

The Securities Issue Committee of Directors has been authorised to determine the terms and conditions of issue of FCCBs (including the tenure, coupon rate and issue price) and to open the issue of the said FCCBs.

 
 
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Deepak Fertilisers and Petrochemicals Ltd on April 22 said its board has given in-principle approval to the company and its subsidiary for raising up to $60 million through debt instruments.

In a regulatory filing, the company informed that the board has granted an in-principle approval for offering FCCBs (foreign currency convertible bonds) aggregating up to $30 million in two tranches to International Finance Corporation (IFC) upon opening of the issue by the Securities Issue Committee of Directors.

The Securities Issue Committee of Directors has been authorised to determine the terms and conditions of issue of FCCBs (including the tenure, coupon rate and issue price) and to open the issue of the said FCCBs.

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"The board has further granted an in-principle approval for issue of CCDs (compulsory convertible debentures) by Smartchem Technologies Ltd (a wholly owned subsidiary of the company) aggregating up to $30 million in two tranches to IFC," the filing said.

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First Published on Apr 22, 2019 07:42 pm
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