Bangalore-based manufacturer of gold jewellery, Rajesh Exports, has raised $134.9 million through conversion of 1,349 Foreign Currency Convertible Bonds (FCCB), issued in 2007, into equity shares.
There will be no further dilution of equity due to conversion of FCCB and trustees of the remaining 151 bonds have been notified for redemption, the company said in a report made to the BSE.
Rajesh Exports had, in 2007, issued $ 150 million worth 1,500 Foreign Currency Convertible Bonds (FCCB) of $1,00,000 each.