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Geospatial and engineering services company Rolta India has raised $300 million (about ₹1,810 crore) from international markets through its wholly-owned subsidiary Rolta Americas.
The funds will be used for the company’s working capital requirements and for refinancing existing debt.
In a statement, the company said that the funds through the issuance of 8.875 percent senior notes (a type of bond offering) by Rolta Americas.
Rolta said that over 200 investors have responded to the offering.
“The offering was well-subscribed across geographies, with Asia contributing to 47 per cent of the demand, US contributing to 35 per cent of the demand and European investors accounted for 18 per cent…,” the company said.
KK Singh, Chairman and Chief Executive Officer, Rolta said: “It is very gratifying that Rolta’s business model and its IP-led solutions approach have inspired confidence in some of the world's largest and most sophisticated investors.”
The notes, which have tenure of five years, are guaranteed by Rolta and its key subsidiaries, the company said.
Barclays and Citigroup, acted as the Joint Lead Managers to the Notes offering.
The Rolta scrip was down by 3.39 per cent to close at ₹109.9 on the Bombay Stock Exchange on Friday.
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