JSL Stainless redeems & cancels FCCBs

JSL Stainless Ltd has announced that in accordance with the approved restructured terms with the FCCB holders, the Company has re-paid an amount of USD 9,000,000 in face value, out of total outstanding FCCBs amounting to USD 24,050,000 in face value. As a result of this payment, FCCBs amounting to USD 9,000,000 in face value have been redeemed and cancelled and the total outstanding FCCBs now stands reduced to USD 15,050,000 in face value. These outstanding FCCBs, unless converted / cancelled, would be redeemed on revised maturity date i.e. December 24, 2019.

The stock was trading at Rs.100.20, down by Rs.4.95 or 4.71%. The stock hit an intraday high of Rs.104.55 and low of Rs.99.50.

The total traded quantity was 0.13 lakhs compared to 2 week average of 0.13 lakhs.

Source : Equity Bulls

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