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McLeod Russel India’s wholly owned subsidiary Borelli Tea Holdings has agreed to sign a share purchase agreement with UK-based LAB International Ltd to acquire a 90 per cent stake in Rwanda-based Pfunda Tea Co Ltd for $19.5 million (about ₹120 crore). After the purchase is executed, Pfunda Tea Co, which is engaged in tea plantation and manufacturing, will become a step-down subsidiary of McLeod Russel, the company said in a notice to the exchanges. .
Larsen & Toubro has successfully closed its $200-million foreign currency convertible bond issue that was launched and priced on September 23, the company said in a release to the exchanges on Wednesday. The company has issued 1,000 bonds at a coupon rate of 0.675 per cent, which will be due for redemption on October 22, 2019. The bonds will be listed on the Singapore Exchange Securities Trading.
Dr. Datsons Labs has informed the BSE that the company has closed its foreign currency convertible bond issue on Tuesday. The board of directors has allotted 130 bonds of $100,000 each aggregating $13 million (about ₹79 crore). The issue was opened for subscription on October 17. The stock on Tuesday closed at ₹14.8, up 0.68 per cent on the BSE.
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