Bajaj Hindusthan repays US$ 120 million Zero Coupon Convertible Bonds due 2011

Bajaj Hindusthan Ltd has announced that in respect of the Zero Coupon Foreign Currency Convertible Bonds (FCCBs) aggregating to US$ 120 million issued by the Company and of which FCCBs of US$ 99.572 million were outstanding, after conversion/repurchase from time to time, the Company has made repayment of an aggregate amount of US$ 133.006 million, including the redemption premium of US$ 33.434 million on the due date (February 02, 2011) in accordance with the tents and conditions of the said FCCBs.

With the aforesaid repayment, entire outstanding FCCBs stands redeemed on maturity.

The stock closed the day at Rs.85.50, up by Rs.3.15 or 3.83%. The stock hit an intraday high of Rs.86.25 and low of Rs.83.

The total traded quantity was 5.90 lakhs compared to 2 week average of 3.46 lakhs.

Source : Equity Bulls

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