Filatex India approves early redemption of NCCRPS

Filatex India Ltd has announced that the Committee of Directors (CoD) of the Company at its meeting held on February 25, 2009, has approved the early redemption of the outstanding Non Convertible Cumulative Redeemable Preference Shares (NCCRPS) amounting to Rs 12.50 crore and accumulated dividend of Rs 0.1465 crore at net present value computed at 12.50% p.a. These NCCRPS were issued to IDBI Bank Ltd.

The stock was trading at Rs.15.70, up by Rs.0.50 or 3.29%. The stock hit an intraday high of Rs.15.89 and low of Rs.14.45.

The total traded quantity was 102 compared to 2 week average of 16167.

Source : Equity Bulls

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