Sesa Goa : plans to raise Rs 6000 crore

by khalid on 26/09/2009 · 1 comment

Sesa Goa

Sesa Goa is planning to raise Rs 6000 crore by issuing various securities in domestic and overseas markets. Sesa Goa is an iron ore exporter and has mining operations in Goa, Karnataka and Orissa. The proceeds will be used for finance the company’s growth plans, including increasing its mining capacity.

There is a long list of companies planning to raise funds in the second half of current financial year and few among them are GMR Energy, Indiabulls Power, JSW Energy and state-run Bharat Heavy Electricals, NTPC, Welspun, Jet Airways and Reliance Infratel etc.

Sesa Goa would raise around Rs 2400 crore through FCCB (Foreign Currency Convertible Bonds). The company is considering QIP (Qualified Institutional Placements) route, global depository receipts, and warrants issue etc.

The company fixed the conversion price of Rs 346.88 for its FCCB issue to raise Rs 2400 crore.

The stock was down by 5.6 per cent to Rs 256.8 a share on the Bombay Stock Exchange [ Images ] on Friday. The Sensex, the benchmark index of the exchange, was down by 0.53 per cent to 16,693.

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Susan Kishner September 26, 2009

Nice site. Thereís some good information on here. Iíll be checking back regularly.


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