Lupin redeems $1.4 million worth FCCBs

Lupin Ltd has announced that in January 2006, the Company had issued Foreign Currency Convertible Bonds (Bonds) (FCCBs) of USD 100 million, with maturity in January 2011. The said Bonds were listed on the Singapore Stock Exchange Ltd. Till date, Bonds aggregating USD 98.6 million have been converted. In accordance with the terms and conditions of the issue, the Company has now redeemed outstanding Bonds of USD 1.4 million. With the early redemption, there are no Bonds outstanding as on date.

The stock closed the day at Rs.1406.40, down by Rs.6.45 or 0.46%. The stock hit an intraday high of Rs.1425 and low of Rs.1398.

The total traded quantity was 7936 compared to 2 week average of 49610.

Source : Equity Bulls

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