Hindustan Construction Company redeems FCCBs worth $96.6 million

Hindustan Construction Company Ltd has made payment towards redemption of outstanding FCCBs of Nominal Value USD 96.6 million, which were due for redemption on April 1, 2011 (Maturity Date), at the redemption price of 137.7139% of its principal amount, as per the terms and conditions of the FCCB Issue.

The Company has paid an aggregate amount of USD 133.03 million consisting of payment of the principal amount of USD 96.6 million and accumulated premium on redemption of the FCCBs of USD 36.43 million.

The stock was trading at Rs.36.85, up by Rs.0.50 or 1.38%. The stock hit an intraday high of Rs.37.25 and low of Rs.35.75.

The total traded quantity was 12.12 lakhs compared to 2 week average of 20.10 lakhs.

Source : Equity Bulls

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