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Firstsource + L&T Foreign Fund Raising

November 7, 2007

Firstsource Solutions has launched US $ 275 million FCCBs at an conversion price of Rs 92.2933 per share.

The issue of FCCBs is firmly underwritten and is subject to approval of shareholders of the company at the extra-ordinary general meeting to be held on 22 November 2007.

Larsen & Toubro has priced its US$ 400 million GDS offering represented by GDRs at US$ 100 per GDS. Each GDS represents one equity share of the company of nominal value of Rs 2 each. The issue was priced after market hours on 06 November 2007. The GDS are proposed to be listed on the Luxembourg stock exchange. Lehman Brothers International (Europe) and UBS are acting as the joint global co-ordinators and joint bookrunners for the offering.

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