Pincon Spirit Ltd has approved raising of up to USD 30 million (approx Rs 200 crore) through issue of foreign currency convertible bonds (FCCBs). The Board of Directors of the company have discussed and approved issue of foreign currency convertible bonds for an amount not exceeding USD 30 million.
The management of Pincon Spirit has commenced preliminary dialogues with reputed Investment Bankers in Singapore and London to evaluate the possible structure and framework for issuance of the same.
The company has preliminary plans to deploy the proceeds for modernization of existing units, acquiring and developing an integrated unit in Northern Bengal, launching of Sunflower/Palm oil variant in the South East Asian market and brand endorsements/advertising purposes for launching new brands.
The management has further communicated that the entire purpose in complete nitty-gritty will be informed to the exchanges and the investor community eventually once the proceeds and utilization of the said exercise is finalized and approved by the board.
Pincon Spirit Ltd has approved raising of up to USD 30 million (approx Rs 200 crore) through issue of foreign currency convertible bonds (FCCBs). The Board of Directors of the company have discussed and approved issue of foreign currency convertible bonds for an amount not exceeding USD 30 million.
The management of Pincon Spirit has commenced preliminary dialogues with reputed Investment Bankers in Singapore and London to evaluate the possible structure and framework for issuance of the same.
The company has preliminary plans to deploy the proceeds for modernization of existing units, acquiring and developing an integrated unit in Northern Bengal, launching of Sunflower/Palm oil variant in the South East Asian market and brand endorsements/advertising purposes for launching new brands.
The management has further communicated that the entire purpose in complete nitty-gritty will be informed to the exchanges and the investor community eventually once the proceeds and utilization of the said exercise is finalized and approved by the board.
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