Alok Industres FCCBs

Alok Industries Ltd has informed that with reference to issue of 1% - 1400 unsecured Foreign Currency Convertible Bonds (FCCBs) of USD 50000 each aggregating to USD 70.00 million issued and allotted in two tranches i.e. in May and June 2005.

The Company have received one conversion notice from the Paying, Conversion and Transfer Agent for conversion of 83 FCCBs of USD 50000 each aggregating to USD 4.15 million into equity shares. In terms of the Offering Circular dated May 26, 2005, the Company has at the meeting of the Executive Committee of Board of Directors held on January 24, 2008 has issued and allotted 28,77,911 equity shares of the face value of Rs 10.00 each for cash at a premium of Rs 61.5875 per share to the allotttee as an outcome of conversion of above referred FCCBs. By virtue of conversion of 83 FCCBs referred above, the number of FCCBs and amount outstanding stands at 650 and USD 32.50 million respectively.

The Company will make an application for listing of the above referred 28,77,911 equity shares shortly. By virtue of the above referred conversion of FCCBs into equity, the paid up equity share capital of the Company has increased from 17,72,78,468 equity shares of the face value of Rs 10/- each to 18,01,56,379 equity shares of the face value of Rs 10/- each.

Pidilite Industries issues FCCBs

Pidilite Industries Ltd (PIL) has informed that the Company has launched on November 03, 2007 an issue of USD 40 million zero coupon foreign currency convertible bonds due 2012 ("Bonds"). PIL has decided to issue the Bonds inter alia, for (i) capital expenditure in accordance with applicable law, (ii) international acquisitions, and (iii) any other use as may be permitted under applicable law or regulations, from time to time. The Bonds will be convertible into equity shares of PIL, quoted in Indian Rupees.

The five year zero coupon Bonds have an yield to maturity of 6.75% per annum (calculated on a semi-annual basis), and are redeemable in 2012 i.e. after 5 years and 1 day from closing date. The Bonds are convertible into equity shares of the Company at any time after January 09, 2008 until November 23, 2012 at a price of Rs 256.035 per Share which represents a premium of 30% to the closing price of the equity shares of PIL on the Bombay Stock Exchange Ltd ("BSE") as of November 02, 2007. The Bonds will be issued at par and redeemed, if not converted into shares, at 139.37% of par on maturity.

Application will be made for the Bonds to be listed on the Singapore Exchange Securities Trading Ltd and for in-approval for the shares to be issued upon conversion of the Bonds to be listed on the NSE and BSE. The Issuer has already obtained the approval of its shareholders by a special resolution passed on August 29, 2007 for the issue of the Bonds and for issue of the Shares to be issued upon conversion of the Bonds.

JPMorgan Securities Ltd is the Lead Manager Underwriter and Sole Bookrunner for the offering.

First Source Solutions - FCCBs

Firstsource Solutions Ltd has informed that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on November 22, 2007, inter alia, to transact the following business:

1. To create, offer, issue and allot in one or more tranches. denominated in foreign currency, in the course of international offerings to any persons including Domestic / Foreign Institutions. Non-Resident Indians, Indian or Overseas Bodies Corporate) domestic or overseas trusts, Mutual Funds, Banks, Insurance Companies, Pension Funds, individuals or otherwise, whether shareholders of the Company or not ("Investors"), at such time or times, at such price or prices, in such manner and on such terms and conditions Including security, rate of interest, etc., as may be decided by and deemed appropriate by the Board at its absolute discretion including the ability to determine the categories of Investors to whom the offer, issue and allotment will be made to the exclusion of all other categories of Investors at the time of such issue and allotment considering the prevailing market conditions and other relevant factors wherever necessary in consultation with the lead managers or any other advisors, as the Board at its absolute discretion may deem fit and appropriate, Foreign Currency Convertible Bonds (FCCBs) ("Securities") convertible into Equity Shares, secured or unsecured upto USD 275 Million (upto INR 12000 Million) or Its equivalent amount in any other currency, subject to necessary provisions & approvals.

2. Authority to the Board to borrow any sum or sums of money for the purpose of the business of the Company including by issue of securities through Foreign Currency Convertible Bonds (FCCBs) or any other securities in Indian or international Market(s) or from one or more Landing Financial Institutions / Banks / Bodies Corporates / Firms / Foreign Investors or other Persons by way of fund based / non-fund based term loans / Guarantees / Letter of Credit / working capital loans or financial facilities in any other form upto an aggregate amount of Rs 15000 Million (Rupees Fifteen Thousand Million) notwithstanding that the monies to be borrowed together with the monies already borrowed by the Company (apart from temporary loans obtained from the Company's Bankers in the ordinary course of business) may, at anytime, exceed the aggregate of the paid up capital of the Company and its free reserves (that is to say reserves not set apart for any specific purpose) and that the Board be and is hereby empowered and authorised to arrange or fix the terms and conditions of all such monies to he borrowed from time to time as to interest, repayment, security or otherwise as they may, at their absolute discretion, think fit, subject to necessary provisions & approvals.

3. Authority to the Board to mortgage and / or charge, in addition to the mortgages and / or charges created / to be created by the Company, in such form and manner and with such ranking as to priority and for such time and on such terms as the Board may determine, all or any of the movable and / or immovable. tangible and / or intangible properties of the Company, both present and future in favour of Lending Financial Institutions / Banks / Bodies Corporates / Firms / Foreign Investors or Persons, lender(s), agent(s), trustee(s) for securing the borrowings of the Company availed / to be availed by way of loan(s) (in foreign currency and / or rupee currency) and securities (comprising fully / partly convertible debentures and / or non convertible debentures with or without detachable or non detachable warrants and / or secured premium notes and / or floating rates notes / bonds or other debt instruments). Commercial papers, issued / to he issued by the Company whether in India or abroad term loans / fund based or non fund based working capital loans / short term loans / temporary loans / Letter of credit) Guarantees / and to secure any other form of borrowing made from time to time for an aggregate amount not exceeding Rs 15000 Million (Rupees Fifteen Thousand Million) at any point of time, together with interest at the respective agreed rates, additional interest, compound interest in case of default, accumulated interest, liquidated damages, commitment charges, premia on pre-payment, remuneration of agent(s) trustee(s), premium (if any) on redemption, all other costs, charges and expenses, including any increase as a result of devaluation / revaluation / evaluation / fluctuation in the rates of exchange and all other monies payable by the Company in terms of loan agreement(s), heads of agreement(s), debenture trust deed or any other document entered into/to be entered into between company and the lender(s) / agent(s) / trustee(s), / respect of the said loans / borrowings / debentures and containing such specific term and conditions and covenants in respect of enforcement of security as may be stipulated in that behalf and agreed to between the Board thereof and the lender(s) / agent(s) / trustee(s), subject to necessary provisions & approvals.

4. Amendment to the ESOS Scheme 2003, a draft of which was placed before the meeting and initialed by the Chairman for the purpose of identification, and to authorize and empower the Compensation cum Board Governance Committee of the Board to discharge the functions in relation to amendment to the ESOS Scheme 2003 and to offer, issue and allot, to all eligible employees of the Company, whether shareholders of the Company or not, options which would entitle such eligible employees to subscribe in such manner and to such number of equity shares of the Company of the face value of Rs 10 (Rupees Ten) upon fulfillment of the conditions stipulated in the amended ESOS Scheme 2003 and the fulfill of such other criteria as may be stipulated by the Compensation cum Board Governance Committee, subject to necessary provisions & approvals.

TTML to issue FCCBs

Tata Teleservices Maharashtra Ltd has informed that the Finance Committee of the Board of Directors of the Company has approved the issue and allotment of an aggregate of 42,61,473 Equity Shares of Rs 10/- each to the investor/s who have exercised their right to convert FCCBs of US$ 2,350,000 held by them into Equity Shares. The Equity Shares have been issued and allotted at a premium of Rs 14.49 per Equity Share (i.e., at a Issue Price of Rs 24.49 per share) in accordance with the terms of the FCCB Issue. Previously the conversion price was Rs 24.96 per share according the terms of the issue, it got adjusted to Rs 24.49 per share after the rights issue of shares of the Company in January 2007. The deemed date of allotment of the Equity Shares is October 26, 2007.

Out of the total FCCBs of US$ 125 million issued by the Company in June 2004, FCCBs aggregating US$ 97.57 million have so far been converted into 17,47,65,704 equity shares (including this 17th Tranche) of the Company.

Tata Group holding stands marginally reduced to 66.54% as a consequence of the above-referred allotment.

Reliance Communications FCCB

Reliance Communications Ltd has informed that the Board of Directors of the Company has, pursuant to requests received from the holders of Zero Coupon Foreign Currency Convertible Bonds (FCCBs) of US$ 1,000 each, allotted on October 23, 2007, 2,21,096 equity shares of Rs 5 each at a predetermined premium of Rs 475.68 per equity share.

The allotted equity shares as aforesaid shall rank pari passu in all respect with the existing equity shares of the Company and shall be entitled for full dividend, if declared for the financial year 2007-08.

Consequent upon the said allotment, the paid-up capital of the Company stands increased to 204,54,75,186 fully paid-up equity shares of Rs 5 each

Firstsource to issue FCCBs

Firstsource Solutions Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 23, 2007, has approved the proposal for issue of securities through Foreign Currency Convertible Bonds (FCCBs) upto USD 275 Million or equivalent amount in any other currency in Indian or International Market, subject to approval of the shareholders and other regulatory approvals, if any required.

XL Telecom FCCBs

XL Telecom & Energy Ltd has informed that with regards to US$35,000,000 zero coupon Unsecured Foreign Currency Convertible Bonds due 2012 (Subject to an over allotment option of up to an additional US$5,000,000 of such bonds) ("the Bonds"), the Company has raised US$35 million by way of issuing Foreign Currency Convertible Bonds in the international markets. The Closing Date for the Issue is October 22, 2007 and the Foreign Currency Convertible Bonds will be listed on the Singapore Stock Exchange

Elara Capital Plc, London has been the Lead Manager for the Issue and Prabhudas Lilladher Advisory Services Pvt Ltd was the Indian Financial Advisors.

The Board has issued Global Certificate representing US$35 million in aggregate principal amount of Bonds.