Tying up funds for FCCB buyback: Rolta India
IT firm Rolta India is going to repurchase foreign currency convertible bonds or FCCBs to the tune of $ 150 million dollars. It has launched an offer to buy back all outstanding FCCBs having a face value of $ 96.69 million and redemption value of $ 134.78 million. K K Singh, Chairman, Rolta India told NDTV Profit that they have raised funds through external commercial borrowings (ECBs). "We expect to raise more funds. We are tying up funds for the FCCB buyback," he said.
