M&M to raise $100 M in convertible bonds

By siliconindia staff writer   |   Friday, 30 April 2004, 07:00 Hrs
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MUMBAI: India's largest tractor and utility vehicle maker, Mahindra & Mahindra has launched an issue of convertible bonds to raise $100 million, the company said in a statement to the Bombay Stock Exchange on Friday.
The issue has a greenshoe option of 15 per cent of the subscription.

The zero-coupon five-year bonds have a face value of $1,000 per bond and an initial conversion price of Rs 647.05 per share.

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