Jindal Saw will raise $ 80 million through an issue of yen-denominated foreign currency convertible bonds (FCCBs) in the overseas markets which will be listed on the Sinagapore stock exchange.According to an official release issued by Jindal to the BSE today, the five year FCCBs are convertible into equity shares at Rs 675 per share, which is at a 53.8% premium over the reference share price of Rs 438.876. Jindal Saw entered into a subscription agreement with Barclays Bank, the sole book runner and lead manager of the issue, on May 2, 2006. The company's depository for the bonds is Euroclear and Clearstream, Luxembourg, the release said.
