ROLTA raises USD 150 million in international market by FCCB offering

ROLTA raises USD 150 million in international market by FCCB offering

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Mumbai, India, 22 June 2007 : Rolta announced that it has successfully raised USD 150 million in the international markets through Zero Coupon Foreign Currency Convertible Bonds (FCCBs). These FCCBs have a tenure of 5 years and 1 day, are convertible at a conversion price of Rs. 737.40 per share, representing a premium of 50 % over the closing price as on 21st June 2007 on the National Stock Exchange.

Lehman Brothers International (Europe) acted as Sole bookrunner and Lead Manager to the FCCBs offering. The proceeds will be used for various growth initiatives including future overseas acquisitions, capital expenditure and expansion of facilities. The FCCBs are expected to be listed on the Singapore Exchange Securities Trading Ltd.

Commenting on this Mr. Kamal K. Singh, Chairman & Managing Director, said “We are delighted with the support and confidence of international institutional investors in Rolta’s business strategy and vision. This will further strengthen our international operations and facilitate faster growth of Rolta.”