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Our Bureau

New Delhi , Aug 1

GRAPHITE electrodes manufacturer, HEG Ltd on Monday announced that it has placed $28.75 million (around Rs 126 crore) unsecured and unrated five-year FCCBs at a 32 per cent conversion premium, translating to a price of Rs 192.06 a share.

The equity shares on conversion will be listed on the BSE, the NSE and the Madhya Pradesh Stock Exchange.

The issue has been placed with large international investors and the company has made an application to list the FCCBs on the Singapore Stock Exchange.

The FCCBs are convertible into rupee stock of the company at the option of the holder. The FCCB issue size was $25 million and it had an additional greenshoe option of 15 per cent of the issue size, amounting to $3.75 million (around Rs 16.2 crore).

The greenshoe option has been fully exercised, increasing the FCCB size to $28.75 million.

Jefferies International Ltd was the sole manager for this transaction.

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