Hikal redeems $12 million FCCBs

Hikal Ltd had issued 0.5% unsecured Foreign Curency Convertible Bonds (FCCB) for US $12 million on October 20, 2005, due on October 20, 2010. These FCCBs are listed on Singapore Stock Exchange.

In terms of agreement with bondholders Company has redeemed the FCCB in full on October 21, 2010 by paying the principal amount of the Bonds alongwith the redemption premium.

The stock was trading at Rs.434.05, up by Rs.4.40 or 1.02%. The stock hit an intraday high of Rs.442 and low of Rs.430.

The total traded quantity was 2900 compared to 2 week average of 11736.

Source : Equity Bulls

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