Televisionpoint: Three investors – Indus Capital, Kelusa Capital and Tracer Capital – have invested close to $33 million in Himachal Futuristic Communications Ltd (HFCL) by subscribing to foriegn currency convertible bond issue. Recently, a US-based $18-billion fund, Emerging Markets Management, had picked up a 5 per cent stake in the company from the open market.
Now FIIs hold 27 per cent (after FCCB conversion) compared to nil about a month ago. Funds raised will be used in expansion of existing product lines and also for new products in the field of broadband and wireless communications.
Subscriber content
?
Subscriber content comes from Gigaom Research, bridging the gap between breaking news and long-tail research. Visit any of our reports to learn more and subscribe.
Advertisement
Advertisement
Advertisement
Comments have been disabled for this post