Indian sugar producer Bajaj Hindusthan raised $255.6 million at the end of last week from a combined sale of convertible bonds and GDRs to pay for a recently announced expansion plan.
The well-received offer, which will use up 29.86 million of the company pre-approved issuance limit of 29.9 million shares if the GDR greenshoe is exercised in full, was arranged by Citigroup.
The deal comprised 16.7 million GDRs - each...