KEI Industries cancels FCCBs worth US$ 4 million

KEI Industries Ltd has announced that the Company has cancelled USD 04.00 Million, 1% Foreign Currency Convertible Bonds (FCCB) of USD 5,000 each due 2011, repurchased in accordance with RBI Circular A.P. (DIR series) Circular dated December 08, 2008 related to Buyback / Prepayment of Foreign Currency Convertible Bonds.

The company bought back 800 Convertible Bonds and cancelled them.

The principal amount of the Bonds outstanding after this repurchased and cancellation is USD 18.10 Million.

The stock closed the day at Rs.22.19, up by Rs.1.05 or 4.97%. The stock hit an intraday high of Rs.22.19 and low of Rs.22.19.

The total traded quantity was 44898 compared to 2 week average of 49958.

Source : Equity Bulls

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