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DEBT | 9 October 2012

Educomp To Raise Additional Foreign Funds

by Paritosh Gajjar
Educomp To Raise Additional Foreign Funds
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Educomp Solutions Limited has plans to raise $250 Mn through international bonds among other options with a sub-limit to raise upto $75 Mn through equity-linked securities, BSE filing stated.

The purpose of the fund raise is not stated.

Also the company increased its Authorised Share Capital from R30 Cr to R40 Cr.

The company had raised $155 Mn through ECB and private placement in June to repay the FCCBs due in July. IFC, Mount Kellet and Proparco had invested during that time.

Last year it had shelved plans to raise $250 Mn through a share sale due to poor market conditions.

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