Due 2075
GMR Infrastructure announced that in accordance with the resolution passed by the managing committee of the board directors of the Company (the "Managing Committee") at its meeting held on 04 December 2015 in furtherance of the approval granted through the resolutions passed by the board of directors of Company (the Board) on 13 August 2015 and the shareholders at the annual general meeting held 23 September 2015 for the proposed fund raising by way of equity shares / GDR / ADR / FCCB / etc an aggregate amount of up to Rs. 2,500 crore or equivalent thereof, in one or more tranches either in INR or foreign currency, the Company has informed that the Managing Committee of the Board of the Company has authorised the issue of US$ 300,000,000 principal amount of 7.5 per cent unsecured subordinated foreign currency convertible bonds due 2075 (the Bonds) to Kuwait Investment Authority for an aggregate consideration of up to US$ 300,000,000. The Bonds will be convertible into equity shares having face value of Re. 1 each of the Company (the Company) in accordance with the terms of Bonds. The initial conversion price in respect of such optional conversion by investor is Rs. 18 per Equity share which is available after 18 months.Powered by Capital Market - Live News
