NIIT to raise $10 mn via FCCBs

The board of directors of NIIT, which met today, has approved a proposal to raise up to $10 million via private placement of foreign currency covertible bonds (FCCBs).

According to a release issued by the company to the BSE today, "the issue and allotment will be made in one or more tranche on terms and condition deemed appropriate by the board of directors."