Stride Arcolab to raise Rs.55 crore
Bangalore: Strides Arcolab Ltd has informed the BSE that a meeting of the Board of Directors of the company will be held on April 12, 2005, to consider the proposal for raising of funds up to an amount not exceeding Rs550 million through issue of Cumulative Redeemable Preference Shares (CRPS).

The meeting will also fix the date, time, and place for holding an Extraordinary General Meeting of the shareholders of the Company to seek their approval for the said proposal.
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Mercator Lines FCCB raises $60 mn
Mumbai: Mercator Lines Ltd has informed the BSE that the company's issue of unsecured Foreign Currency Convertible Bonds (FCCB), aggregating US $ 60 million on book building has been successfully completed on April 07, 2005.

The proposed allotment date for the issue is April 27, 2005, while the maturity period will be for a period of five years and one day. The initial conversion price has been pegged at Rs149.53 per share, with a fixed rate of exchange on conversion at Rs43.73 for USD 1.00. This will represent a forty per cent premium over the volume weighted average price of the date of launch, i.e. Rs106.808. The cash coupon rate will be 1.50 per cent p.a., which will be payable annually. The yield to maturity ratio works out to:5.95 per cent p.a.

It will be listed on the Singapore Stock Exchange.
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