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Thursday, Apr 08, 2004

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Corporate - Overseas Borrowings
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Bharti raises $100 m through FCCBs

Our Bureau

New Delhi , April 7

BHARTI Televentures Ltd on Wednesday announced that it had raised $100 million in foreign currency convertible bonds (FCCBs) from global markets for its expansion plans.

"The issue was for $100 million, and it received an overwhelming response generating a demand exceeding $1 billion," according to a statement from Bharti.

The conversion price works out at Rs 232, reflecting a 40 per cent premium on Wednesday's closing price of Rs 166.55 on the Bombay Stock Exchange, it said.

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