Moneycontrol PRO
Upcoming Event:Attend Algo Convention Live, 2 Days & 12+ Speakers at best offer Rs.999/-, exclusive for Moneycontrol Pro subscribers. Register now!
you are here: HomeNewsBusiness

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.

April 22, 2019 / 07:48 PM IST
Representative Image

Representative Image

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

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.

"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.



Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

PTI
first published: Apr 22, 2019 07:42 pm
Sections
ISO 27001 - BSI Assurance Mark