Sintex to raise up to Rs 1,538 cr via FCCBs, NCDs

NEW DELHI: Plastic and Textiles firm Sintex Industries today said it will raise up to Rs 1,538 crore via issuance of foreign currency convertible bonds (FCCBs) and non-convertible debentures.

In a BSE filing, Sintex said, "Board of Directors of the company approved the issue of foreign currency convertible bonds for an amount not exceeding USD 200 million (Rs 1,338 crore) and formation of the FCCB committee to approve the terms of FCCBs, issue price, opening and closing date of the issue."

It further said, "The Board has also approved issue of secured redeemable non-convertible debentures (NCDs) to banks and financial or any other institution for an amount not exceeding Rs 200 crore."

Sintex Industries shares were trading 0.70 per cent up at Rs 79 on BSE in the late morning trade.