Date:15/04/2006 URL: http://www.thehindu.com/2006/04/15/stories/2006041501231605.htm

Business - Briefly

U.K. based fund invests in IG Petro

CHENNAI: IG Petrochemicals has received Rs.125 crore investment from the U.K. based Spinnaker Capital, an international fund. As part of the investment, Spinnaker will receive 12.50 million optional convertible debentures from IGPL. The bond issue will have two parts, Part A consisting of 13.50 lakh bonds at a price of Rs. 30 or the price determined in accordance with the SEBI guidelines and Part B consisting of 111.50 lakh bonds at a price of Rs. 200 or the price determined in accordance with the SEBI, whichever is higher on the relevant date.