ICSA India raises fund through FCCBs

ICSA India Ltd has announced that the Board of Directors of the Company at its meeting held on April 27, 2007, inter alia, has transacted the following:

1. The Company has issued USD 24 Million Foreign Currency Convertible Bonds in the International markets with the Closing Date for the Issue being April 27, 2007. These Foreign Currency Convertible Bonds will be listed on the Singapore Stock Exchange and Elara Capital Plc, London has been the Lead Manager for the Issue.

2. Allotted 2.5% unsecured 2,400 Foreign Currency Convertible Bonds (FCCBs) at the price of 10,000$ each aggregating to USD 24 Million.

3. Issued Global Certificate representing in aggregate the above mentioned USD 24 Million principal amount of Bonds.

Source : Equity Bulls

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