Welspun-Gujarat Stahl Rohren, the flagship company of the Welspun Group, today said it has hiked the size of its foreign currency convertible bonds (FCCBs) from $20 million to $150 million (about Rs 690 crore).

The company "successfully upsizes its FCCBs offering for an amount of $20 million, taking total to $150 million", Welspun-Gujarat Stahl Rohren said in a statement to the Bombay Stock Exchange (BSE).

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FCCBs are a type of convertible bond issued in a currency different than the issuer's domestic currency.

JP Morgan has acted as the sole bookrunner of the issue, it added.

Shares of Welspun-Gujarat Stahl Rohren rose 4.21 per cent and were trading at Rs 279.50 in the morning trade on the BSE.

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