Wire & Wireless India to raise Rs 192 crore

Wire & Wireless India Ltd has announced that the Board of Directors of the Company at its meeting held on June 05, 2009, inter alia, has taken on record the credit rating "AA(SO)" assigned by Credit Analysis & Research Ltd (CARE) for debt issue upto Rs 200 crores by the Company.

The company approved issuance of 192 Secured Redeemable Non-Convertible Debentures of Rs 10,00,000 (Rupees Ten Lacs only) each aggregating Rs 192 crores on a private placement basis to Institutional Investors. These Debentures shall be listed on the Wholesale Debt Market Segment of the National Stock Exchange of India Ltd.

The stock closed the day at Rs.26.25, up by Rs.0.45 or 1.74%. The stock hit an intraday high of Rs.27.65 and low of Rs.26.

The total traded quantity was 5302513 compared to 2 week average of 4547161.

Source : Equity Bulls

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