Videocon Industries will raise $97.20 million (about Rs 641 crore) through five-year Foreign Currency Convertible Bonds (FCCBs) due in 2020.

In a BSE filing, Videocon said it has “launched issue of Foreign Currency Convertible Bonds convertible into ordinary equity shares, in exchange for a part of outstanding amount of existing $200,000,000 6.75 per cent’’.

It further said: “Convertible bonds due 2015, subject to the acceptance of the exchange offer by the requisite majority of the bondholders and subject to other statutory approvals.”

Videocon said it will “make an application to Singapore Exchange Securities Trading Ltd for the bonds to be listed; and for in-principle approval for the shares to be issued upon conversion of the bonds to be listed on the National Stock Exchange of India Ltd and the BSE Ltd.”

The company added that it has already obtained the approval of its shareholders by a special resolution passed on June 27, 2015 for issue of the bonds and for issue of the shares upon conversion of the bonds.

Credit Suisse is the sole book-runner for the offering.

Shares of Videocon Industries were trading at Rs 132.25 apiece on BSE, up 0.34 per cent.

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