Nectar Lifesciences redeems Foreign Currency Convertible Bonds on maturity

Nectar Lifesciences Ltd has made payment towards redemption of outstanding FCCBs of Nominal Value US$ 33 million, which were due for redemption on April 26, 2011 (Maturity Date), at the redemption price of 150.71% of its principal amount, as per the terms and conditions of the FCCBs issue.

The Company has paid an aggregate amount of US$ 49.7343 million consisting of payment of the principle amount US$33 million and accumulated premium on redemption of the FCCBs of US$ 16.7343 million.

The stock was trading at Rs.28, up by Rs.0.95 or 3.51%. The stock hit an intraday high of Rs.29.65 and low of Rs.26.55.

The total traded quantity was 1.73 lakhs compared to 2 week average of 0.21 lakhs.

Source : Equity Bulls

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