Birla Arm Plans Rs 45.6-Crore Debt Issue

It is meant to strengthen the company's capital base, augment long-term resources and sustain the growth.

The company's asset base has increased from Rs 66.96 crore as on July 31, 1994 to around Rs 300 crore as on March 31, 1996. The OCDs offered by the company have two parts. Part A of Rs 27.50 is convertible into one equity share on allotment, while Part B of Rs 40 is optionally convertible at the investor's option at a price of Rs 35 to Rs 45 per share.