Business Daily from THE HINDU group of publications
Tuesday, Oct 17, 2006

Cross Currency

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Corporate - Overseas Borrowings
Bhagyanagar FCCB allotment

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Hyderabad, Oct. 16

Bhagyanagar India Ltd has announced it has successfully completed the issue and allotment of 150 zero-coupon unsecured foreign currency convertible bonds (FCCB) of $100 each for an aggregate value of $15 million (about Rs 135 crore).

In a notification to the BSE, the company said these bonds, with a conversion price of Rs 44 due in 2011, were allotted to Portman Square, London. These bonds were listed on Luxembourg Stock Exchange on October 12.

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