Rajesh Exports repays FCCB

Rajesh Exports Ltd. (BSE Code: 531500), (NSE Code: RAJESHEXPO) had issued 1500 Foreign Currency Convertible Bonds (FCCB) of USD 100,000 Each totaling a value of USD 150 Million on 22/02/2007. The bonds were overwhelmingly received in the international market and the issue was oversubscribed.

Investors opted for a conversion of 1349 bonds into equity shares. The last of the equity share from the converted bonds was issued in the Month of February 2011. Investors opted for redemption of 151 bonds, for which an accredited value of USD 22,381,493.31 was to be paid to the investors. The company has fully discharged it's obligation towards the bond holders, by making a payment of USD 22,381,493.31 on time.

With this the company has cleared all it's obligations towards the issue of FCCB well within the required time.

The Rajesh Exports Ltd stock was trading at Rs.135, up by Rs.7.30 or 5.72%. The stock hit an intraday high of Rs.136 and low of Rs.128.20.

The total traded quantity was 1.32 lakhs compared to 2 week average of 0.36 lakhs.

Source : Equity Bulls

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