Ruchi Infrastructure FCCB issue to list in Singapore Stock Exchange

Ruchi Infrastructure Ltd has announced that pursuant to the approval received from the shareholders of the Company at the Extra Ordinary General Meeting (EGM) held on July 14, 2006, the Company opened its US$ 40 million Foreign Currency Convertible Bond Issue (FCCB) for subscription on January 31, 2007 and closed the FCCB issue on February 02, 2007.

The Bonds are convertible into equity shares of the Company. The Bonds will be listed on the Singapore Stock Exchange.

SBICAP (UK) Ltd acted as the Sole Lead Manager to the FCCB Issue. Sidley Austin acted as the International Legal Counsel to the Lead Manager and Rajani Associates acted as the Indian Legal Counsel to the Lead Manager. M/s Pandya & Co. acted as legal counsel to the Company.

Source : Equity Bulls

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