Aanjaneya Lifecare has said in a filing with the stock exchange that it is delaying the issue of its foreign currency convertible bond.

The company wrote in a filing with the Bombay Stock Exchange (BSE) that it has decided to delay the FCCB issue due to unfavourable market circumstances. The issue, which was set to be launched today, was aimed at raising about $75 million. The company said that it will announce the next date for the issue in due course.

The company wrote that "due to unfavourable market circumstances, the company has decided to defer the issue of FCCBs till further notice".

It is believed that there were 4.13 lakh shares in the exchange, but it did not attract buy quotes form the investors. The management had noted that the there was a huge fluctuation in the market prices of its shares in February and had said that it was unfavourable for the company.

The shares of the company fell 5 per cent Rs 232.10, which is its lowest in 52 weeks, on the BSE. The shares had touched a 52-week high of Rs. 850.70 on the BSE on January 18 and have since fallen to more than two-third of its value.