Pokarna Ltd announces final redemption of Zero Coupon FCCBs

Pokarna Ltd had issued FCCB aggregating to US$ 12 million which was due for redemption on March 29, 2012. The Company has in the past redeemed FCCBs of US$ 3.700 million on December 28, 2012, US$ 3.762 million on May 15, 2013 and US$ 2.077 million on May 20, 2013.

Now, the Company has redeemed the outstanding FCCB with face value of US$ 2.461 million on December 19, 2014. With this last leg of redemption, FCCB issued by the Company have been fully redeemed and therefore now cease to exist. Procedural formalities relating to marking down the said FCCB is in progress.

Shares of POKARNA LTD. was last trading in BSE at Rs.573 as compared to the previous close of Rs. 570.2. The total number of shares traded during the day was 7778 in over 123 trades.

The stock hit an intraday high of Rs. 589 and intraday low of 570. The net turnover during the day was Rs. 4482215.

Source : Equity Bulls

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