Videocon Industries Launches $97.20 Million Convertible Bonds

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Videocon Industries has said that it has launched the Issue of Foreign Currency Convertible Bonds convertible into ordinary equity shares, in exchange of a part of outstanding amount of existing USD 200,000,000 6.75 per cent.

Videocon Industries Launches $97.20 Million Convertible Bonds

Convertible Bonds due 2015, subject to the acceptance of the exchange offer by the requisite majority of the bond holders and subject to other statutory approvals.

"The Company shall make an application to the Singapore Exchange Securities Trading Limited for the Bonds to be listed; and for in-principle approval for the Shares to be issued upon conversion of the Bonds to be listed on the National Stock Exchange of India Limited and the BSE Limited," the company informed in a filing to the Bombay Stock Exchange.

The Company has already obtained the approval of its shareholders by a special resolution passed on June 27, 2015 for the issue of the Bonds and for issue of the Shares upon conversion of the Bonds.

Meanwhile, shares of the company were trading at Rs 131.50 apiece, down 0.23 per cent from the previous close at 09:43 hours on BSE.

Story first published: Tuesday, November 17, 2015, 12:20 [IST]
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