By Devika Patel
Knoxville, Tenn., April 18 - Kemrock Industries and Exports Ltd. informed the Bombay Stock Exchange that it sold Rs. 750 million of 12.5% secured redeemable non-convertible debentures.
The company sold 2,500 debentures at Rs. 300,000 each.
The investors also received 1.25 million warrants, which are exercisable at Rs. 600 for four years.
Vadodara, India-based Kemrock Industries manufactures fiberglass reinforced polymer composites and resins.
| Issuer: | Kemrock Industries and Exports Ltd.
|
| Issue: | Secured redeemable non-convertible debentures
|
| Amount: | Rs. 750 million
|
| Debentures: | 2,500
|
| Coupon: | 12.5%
|
| Price: | Par of Rs. 300,000
|
| Yield: | 12.5%
|
| Warrants: | 1.25 million
|
| Warrant expiration: | Four years
|
| Warrant strike price: | Rs. 600
|
| Settlement date: | April 18
|
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