3i Infotech raises $100 m

MUMBAI, INDIA: Indian software services firm 3i Infotech Ltd. said on Tuesday it had raised $100 million through an issue of foreign currency convertible bonds.

The zero coupon bonds will be convertible at a price of 331.87 rupees a share, or can be redeemed on the expiry of five years at a yield-to-maturity of 7.05 percent, it said in a statement.

The bonds will be listed on the Singapore stock exchange.