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Our Bureau

Mumbai March 27 3i Infotech said on Tuesday it has launched and priced a Foreign Currency Convertible Bonds (FCCB) offering of € 30 million (Rs 174 crore).

The funds raised will help the company in its acquisition plans.

"We are looking at acquiring companies in the US, UK and other countries in the banking-financial services-insurance vertical in the next 18 months," said Mr Amar Chintopanth, Chief Financial Officer and Executive Director, 3i Infotech.

The FCCB issue will be convertible over a five-year period at a conversion price of Rs 308.63 and will be listed on the Singapore Stock Exchange, a news release from the company stated . The conversion price of the zero coupon bonds is at 25 per cent premium to the company's closing share price on BSE as on March 26, the statement said.

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