Jaiprakash Associates redeems FCCB-II Bonds partially

Out of the total FCCB-II Bonds having face value of Euro 165 million of Jaiprakash Associates Ltd, Bonds having face value of Euro 163,294,000 were converted so far, leaving an outstanding balance of Euro 1,706,000.

On April 09, 2011, bond holders holding 1451 bonds having face value of Euro 1,451,000 had used there "OPTIONAL PUT RIGHT" in terms of Clause 8.6 of the offering circular dated March 06, 2006. The Company has remitted an amount of Euro 1,777,379.07 representing the 'Accredited Principal Amount' together with accrued but unpaid interest in terms of Clause 8.6.1 and 8.7 of the offering circular.

With the aforesaid, the FCCB-II still outstanding have a face value of Euro 255,000 only.

The stock closed the day at Rs.96, down by Rs.3.10 or 3.13%. The stock hit an intraday high of Rs.101.45 and low of Rs.95.75.

The total traded quantity was 25.41 lakhs compared to 2 week average of 22.99 lakhs.

Source : Equity Bulls

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