Nava Bharat Ventures launches FCCB issue

Nava Bharat Ventures Ltd has announced that the Company has launched a JPY 5,250,000,000 (with an option to purchase an additional JPY 750,000,000) Zero Coupon Foreign Currency Convertible Bonds Due 2011 (the "Bonds") Offering (the "Offering"). The Offering has been approved by the shareholders of the Company by way of a special resolution at their Extraordinary General Meeting on June 30, 2006. The Bonds are expected to be listed on the Singapore Exchange Securities Trading Ltd. The Offering has been fully underwritten and the conversion price for the Bonds has been fixed at Rs 136.50 per equity share.

Edelweiss Capital Ltd and Lehman Brothers International (Europe) acted as the Joint Lead Managers, Lehman Brothers International (Europe) acted as the Sole Bookrunner and Underwriter and Edelweiss Capital Ltd acted as Adviser to the Company for this Offering.

Source : Equity Bulls

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