Pyramid Saimira Theatre Ltd on Wednesday said it has raised $90 million (Rs 369 crore) through issue of Foreign Currency Convertible Bonds (FCCBs) in the international market to fund its overseas acquisition plans.
"The proceeds of the issue shall be used for potential strategic acquisitions outside India and other purposes", the company said in a communique to the Bombay Stock Exchange (BSE).
The FCCBs would have matured on June 4, 2012 and would be convertible into equity shares of the company at Rs 454 per share, which is a premium of 36 per cent, calculated over the closing price on June 28 at Rs 333.20 on BSE.
The FCCBs would be listed on the Singapore Stock Exchange and the underlying equity shares upon conversion would be listed on the BSE and the National Stock Exchange (NSE).
Read more in The Economic Times article.
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