Brushman India raises US$12 Million through FCCB Issue

Brushman India Ltd has announced that the Company has successfully closed its Foreign Currency Convertible Bonds (FCCB) issue of USD $ 12 Million by way of allotment of 1200 zero coupon Unsecured Foreign Currency Convertible Bonds (FCCB) due 2013 of US$ 10,000 each for an aggregate amount of US$ 12,000,000 (inclusive of an Over-allotment Option of 200 zero coupon Unsecured Foreign Currency Convertible Bonds (FCCB) due 2013 of US$ 10,000 each for an aggregate amount of US$2,000,000) (the "Bonds") to be listed on the Official List of the Luxembourg Stock Exchange and to be traded on the Luxembourg Stock Exchange's Euro MTF market with a conversion price of INR 161 and YTM of 5%, subject to the terms and conditions specified in the Offering Circular.

The stock was trading at Rs.120.50, up by Rs.5.10 or 4.42%. The stock hit an intraday high of Rs.121.15 and low of Rs.110.

The total traded quantity was 36198 compared to 2 week average of 131452.

Source : Equity Bulls

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