Adlabs to raise funds through foreign currency bonds

March 17th, 2008 - 11:50 pm ICT by admin  

Mumbai, March 17 (IANS) ADAG-promoted Adlabs Films Ltd has decided to raise $666,339 (Rs.27.13 million) through issuance of Zero Coupon Foreign Currency Convertible Bonds (ZCFCCBs). In a meeting held Monday, the company’s board of directors decided to allot 49,924 equity shares with a face value Rs.5 each for cash at a price of Rs.543.42 (including a premium of Rs.538.42) per share.

Further pursuant to the allotment the net worth of the company shall be $160.8 million.

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