Essar Oil allots US$ 115 mn FCCBs due June 2028

Essar Oil Ltd has announced that the Company has on June 15, 2010, issued US$ 115 million Foreign Currency Convertible Bonds due June 2028 (FCCBs) to Promoter Company, Essar Energy Holdings Ltd for part financing expansion programmes of the Company. The FCCBs are convertible into Global Depository Shares (GDSs) or equity shares of the Company, at the option of the Bondholders, at a conversion price of Rs. 138/- per share.

The stock was trading at Rs.126.85, down by Rs.0.35 or 0.28%. The stock hit an intraday high of Rs.130 and low of Rs.126.15.

The total traded quantity was 321752 compared to 2 week average of 912724.

Source : Equity Bulls

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