Bajaj Hindusthan repurchases US$ 19.928 million worth FCCBs

Bajaj Hindusthan Ltd has now announced with reference to the earlier announcements regarding "Buyback (Repurchase) of USD 120 million Zero Coupon Convertible Bonds due 2011 "the Bonds"), that the Company has received confirmation regarding cancellation of repurchased Bonds having an aggregate principal amount of US$ 19.928 million.

The Bonds repurchased through "Open Market" having an aggregate principal value of US$ 17.928 million were extinguished on June 12, 2009 and Bonds repurchased pursuant to "Tender Offer" having an aggregate principal value of US$ 2 million were extinguished on June 23, 2009.

As at the date hereof, the aggregate principal amount of outstanding Bonds is US$ 99.572 million.

The stock closed the day at Rs.205.20, up by Rs.14.75 or 7.74%. The stock hit an intraday high of Rs.206.40 and low of Rs.191.

The total traded quantity was 3107988 compared to 2 week average of 2274455.

Source : Equity Bulls

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