Himatsingka Seide Ltd approves allotment of 8300 FCCBS to IFC

The Securities Allotment Committee ("Committee") of the Board of Directors of Himatsingka Seide Limited (the "Company") at its meeting held on April 27, 2023, has approved the allotment of first tranche of 8,300 (Eight Thousand Three Hundred) Unrated, Unlisted, Unsecured Foreign Currency Convertible Bonds (FCCBs) having face value of USD 1000 (United States Dollar One Thousand) each, aggregating to USD 8,300,000 (United States Dollar Eight Million Three Hundred thousand) to International Finance Corporation ("IFC").

The issue is being subscribed by IFC at face value of USD 1000 per FCCB.

The FCCBs are convertible into equity shares at a per share Price of Rs.165/-, subject to adjustments as per terms of agreement.

The conversion of the FCCBs will be at the option of IFC, the conversion price for the equity shares to be issued upon conversion of the FCCBs is INR 165 per share which is subject to adjustments in accordance with the terms agreed between the parties, and applicable law.

Shares of Himatsingka Seide Limited was last trading in BSE at Rs. 82.88 as compared to the previous close of Rs. 80.83. The total number of shares traded during the day was 34157 in over 769 trades.

The stock hit an intraday high of Rs. 84.43 and intraday low of 81.97. The net turnover during the day was Rs. 2838820.00.

Source : Equity Bulls

Keywords

HimatsingkaSeide INE049A01027 FundRaising FCCBs IFC