KEI Industries Cancels US$ 10.55 million worth Foreign Currency Convertible Bonds

KEI Industries Ltd has announced that the Company has cancelled USD 10.55 Million, 1% Foreign Currency Convertible Bonds (FCCB) of USD 5,000 each due 2011, repurchased in accordance with RBI Circular dated December 08, 2008 related to Buyback / Prepayment of Foreign Currency Convertible Bonds (FCCBs).

Under Tranche 1, the company has repurchased and cancelled 2110 bonds. The principal amount of the Bonds outstanding after this repurchase and cancellation is USD 22.10 Million.

The stock closed on May 8, 2009 at Rs.13.92, down by Rs.0.07 or 0.50%. The stock hit an intraday high of Rs.14.50 and low of Rs.13.50.

The total traded quantity was 43685 compared to 2 week average of 46003.

Source : Equity Bulls

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