Jubilant repays FCCBs by raising $85 million through QIP

Pharmaceutical company Jubilant Organosys Ltd said it repaid $69 million debt by raising $85 million through qualified institutional placement (QIP).
The company has made the repayment for foreign currency convertible bonds (FCCBs) worth $50 million along with the $19 million yield to maturity (YTM). The FCCBs were due for redemption on 24th May.
 
In a regulatory filing, the company said its strategy is to bring down the leverage to less than a level of 1:1.

On Wednesday Jubilant Organosys shares ended 1.96% up at Rs338 on the Bombay Stock Exchange, while the benchmark Sensex closed 2.28% up at 16,387.84 points.

 

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Valecha consortium wins Rs509 crore highway project in Orissa

In a filing to Bombay Stock Exchange (BSE), Valecha Engineering Ltd said its consortium won a highway project (Kazstroy-Valecha) worth Rs509 crore in Orissa. The project is to be build on build, operate and transfer (BOT) basis.

On Wednesday Valecha Engineering shares ended 13.33% up at Rs188.30 on the BSE, while the benchmark Sensex closed 2.28% up at 16,387.84 points.

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IVRCL wins orders worth Rs567.36 crore

Hyderabad-based IVRCL Infrastructures & Projects Ltd (IVRCL) said its buildings, transportation and water divisions have won construction orders worth Rs567.36 crore.

In a regulatory filing, the company said its first order, worth Rs122.8 crore, includes extension of Bihar Vidhan Sabha and Secretariat Complex at Patna. The second order is civil and structural works of ECU Unit for Brahmaputra Petrochemical Complex at Lepetkata (Assam), worth Rs60.25 crore.

The third order is construction of All India Institute of Ayurveda at Sarita Vihar in New Delhi, worth Rs63.55 crore. The fourth order, worth Rs33.6 crore, is given by Hyderabad-based National Remote Sensing Centre for construction of buildings. In Mumbai, the company has won two contracts worth Rs33.49 crore and Rs29.57 crore, respectively. Besides, this it has secured other contracts of Rs40.27 crore.

On Wednesday IVRCL Infrastructures & Projects shares ended 3.20% up at Rs149.75 on the Bombay Stock Exchange, while the benchmark Sensex closed 2.28% up at 16,387.84 points.

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