[Assam] Assam co to raise up to $50 mn from overseas mkts

[Pradip Kumar Datta]

Assam co to raise up to $50 mn from overseas mkts
  


            MUMBAI: Assam Company Ltd on Friday said it will raise up to $50 million through issue of Foreign Currency Convertible bonds in the overseas market. 

In a communique on the Bombay Stock Exchange, the company, which owns around 18 tea estates, said it has issued $44 million of Foreign Currency Convertible Bonds (FCCBs) in the board meeting held on Thursday. 

The company had come out with an issue of FCCBs worth $40 million with an over allotment option for an additional $10 million, exercisable in one or more tranches, it said. 

Shares of the company, engaged in cultivation, manufacture and sale of tea and oil gas exploration, was trading at Rs 26.10, up 1.16 per cent at the BSE. 


 
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