Punj Lloyd redeems FCCBs on maturity

Punj Lloyd Ltd had issued 5 years and 1 day Zero Coupon US$ denominated Foreign Currency Convertible Bonds (FCCB) aggregating to US$ 125 million during the financial year 2006-07. Of this, FCCB amounting to USD 75.30 million (60.24%) were converted into equity shares on exercise of option by the bond holders.

The balance FCCB have been redeemed on the maturity date (i.e. April 08, 2011) at their redemption value of US$ 62.55 (Rs.275.21 Crore).

The stock closed the day at Rs.74.15, down by Rs.2.10 or 2.75%. The stock hit an intraday high of Rs.77.50 and low of Rs.73.30.

The total traded quantity was 12.72 lakhs compared to 2 week average of 15.34 lakhs.

Source : Equity Bulls

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