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Our Bureau

Mumbai, April 5

Mahindra & Mahindra Ltd (M&M) on Wednesday informed that a committee of its board has decided to launch an issue of Foreign Currency Convertible Bonds (FCCBs) not exceeding $200 million.

Commonly termed convertible notes in the international market, they would be convertible into fully paid equity shares of Rs 10 each or into Global Depository Receipts (GDRs), each representing one fully paid equity share of the company, an official statement said.

Shares of M&M edged down by Rs 1.55 to Rs 654.05 in Wednesday's trade on BSE.

More Stories on : Overseas Borrowings | HCV/LCV/Tractors | Mahindra & Mahindra Ltd

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