3i Infotech Ltd has priced its foreign currency convertible bonds offering of $100 million at Rs 331.87 per share.
The zero coupon FCCBs are proposed to be listed on the Singapore Stock Exchange and are convertible after five years, the company said in a notice to the BSE Tuesday.
At Rs 331.87 per share, the FCCBs are at a premium of 10% to the closing price on National Stock Exchange Monday (June 25). The FCCBs will be redeemable on expiry at a yield to maturity of 7.05%.
"3i Infotech is looking at achieving leadership position in the BFSI solutions space. Proceeds of this FCCB offering will be used to further fuel our expansion plans in the coming years," V Srinivasan, managing director and CEO was quoted as saying in the notice.
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