Amtek India Ltd, an auto parts maker, raised $70 million through foreign currency convertible bonds (FCCBs), it said in a statement to the stock exchange on Friday.
The bonds, which are due in 2017, are convertible at the initial conversion price of 103.005 rupees per equity share of the company. The FCCBs will bear a coupon of 2.50 percent payable on a semi-annual basis, Amtek India said.
DBS Bank Ltd
Shares of Amtek India, valued by the market at about $490 million, were down 0.4 percent at 98.60 rupees at 0430 GMT in a strong Mumbai market.