Bajaj Hindusthan repurchases FCCBs worth US$ 2.434 million

Bajaj Hindusthan Ltd has announced, with reference to its earlier annoucement dated June 02, 2009 & June 05, 2009 regarding Buyback (Repurchase) of USD 120 million Zero Coupon Convertible Bonds due 2011 "the Bonds"), in response to the Tender Offer for buyback (repurchase) of the Bonds.

Bajaj Hindusthan Ltd (the "Company") has accepted for buy-back (repurchased) Bonds on the Settlement Date an aggregate principal amount of USD 2 million (the accreted value of liability to be cancelled is USD 2.434 million).

The aggregate cash amount paid by the Company to the Bond holders for the repurchased Bonds is USD 1.82 million.

The aggregate principal amount of Bonds which remain outstanding after aggregate repurchase under Open market purchases as well as the Tender Offer is USD 99.572 million.

The stock was trading at Rs.215.75, up by Rs.4.40 or 2.08%. The stock hit an intraday high of Rs.217.25 and low of Rs.205.

The total traded quantity was 489596 compared to 2 week average of 2950345.

Source : Equity Bulls

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