Videocon to raise Rs. 641 crore through FCCBs.

Videocon Industries will raise $97.20 million (about Rs 641 crore) through five year Foreign Currency Convertible Bonds (FCCBs) due in 2020.

In a BSE filing, Videocon said it has 'launched issue of Foreign Currency Convertible Bonds convertible into ordinary equity shares, in exchange of a part of outstanding amount of existing $200,000,000 6.75%.'

It further said, 'Convertible Bonds due 2015, subject to the acceptance of the exchange offer by the requisite majority of the bond holders and subject to other statutory approvals.'

Videocon said it will 'make an application to the Singapore Exchange Securities Trading Ltd for the Bonds to be listed; and for in-principle approval for the shares to be issued upon conversion of the Bonds to be listed on the National Stock Exchange of India Ltd and the BSE Ltd.'

The company added that it has already obtained the approval of its shareholders by a special resolution passed on June 27, 2015 for issue of the Bonds and for issue of the shares upon conversion of the Bonds.

BS