Welspun Gujarat Stahl Rohren Ltd, the flagship company of the Welspun Group said that it has hiked the size of its foreign currency convertible bonds from USD 20 million to USD 150 million.
Welspun-Gujarat Stahl Rohren in a statement to the Bombay Stock Exchange said that the company successfully upsized its FCCBs offering for an amount of USD 20 million taking total to USD 150 million.”
The pipe manufacturer said that “The response of investors to the total offering was overwhelming and it includes a mix of European and Asian investors among others.”
FCCBs are a type of convertible bond issued in a currency different than the issuer's domestic currency.
It added that JP Morgan has acted as the sole book-runner of the issue.
(Sourced from www.steelguru.com)
Friday, October 9, 2009
Welspun Gujarat Stahl Rohren up sizes FCCB issue
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