3i Infotech redeems U.S. $ 50,000,000 Zero Coupon Convertible Bonds

3i Infotech Ltd had issued U.S. $ 50 million Zero Coupon Foreign Currency Convertible Bonds vide Offering Circular dated March 10, 2006, First issue XSO245867667 (Offering Circular) as First Tranche. Out of these, over a period of time, FCCBs of nominal value of U.S. $ 29.8 million were converted into 59,77,602 equity shares of the Company having a face value of Rs. 10 each and the outstanding bonds of nominal value of U.S. $ 20.2 million, which were due for redemption on the maturity date, were redeemed in full on March 17, 2011 at the Redemption Price of 139.703 percent of its principal amount, as per the terms and conditions of the issue.

In view of above, all the FCCBs issued by the Company under the above referred Offering Circular have been extinguished in full and there are no outstanding as on date.

The stock was trading at Rs.40.25, down by Rs.0.05 or 0.12%. The stock hit an intraday high of Rs.41.30 and low of Rs.39.95.

The total traded quantity was 2.23 lakhs compared to 2 week average of 1.72 lakhs.

Source : Equity Bulls

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