Electrotherm India to issue $10 mln bonds to IFC

Newswire

MUMBAI, June 25 (Reuters) - Steel and electric vehicles maker Electrotherm India Ltd. said on Monday it would allot convertible bonds worth $10 million to International Finance Corp, convertible into equity at 600 rupees per share. The company had earlier said IFC would also give it $15 million in the form of 10 year debt. Ahead of the news, shares in the company ended 1.3 percent up at 497.50 rupees in the Mumbai market.

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