Sintex Industries Ltd to raise US$ 300 million

Sintex Industries Ltd has announced that the Company is in the process of raising funds of USD 300 min (including USD 75 min green shoe option) in the form or Foreign Currency convertible bonds. The Company has appointed ICICI Bank UK Plc and Silverdale Services Ltd as the joint lead managers.

The bonds are proposed to be allotted on or around March 12, 2008.

The stock closed the day at Rs.473.70, down by Rs.4.15 or 0.87%. The stock hit an intraday high of Rs.477.75 and low of Rs.466.10.

The total traded quantity was 3948 compared to 2 week average of 90103.

Source : Equity Bulls

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