Bharat Forge Ltd redeems FCCBs aggregating to $57,030,400

Bharat Forge Ltd has, on April 27, 2012, redeemed Foreign Currency Convertible Bonds (FCCBs) (Tranche 'A'), aggregating to US $ 57,030,400 (includes principal of US $ 40,000,000 and redemption premium of US $ 17,030,400) in terms of Offering Circular dated April 24, 2006.

On April 28, 2006, the Company had issued the said FCCBs, optionally convertible into GDRs/ Equity Shares, aggregating to US $ 40.00 million, mainly to finance capital expenditure and global acquisitions.

The Bharat Forge Ltd. stock closed the day at Rs.314.80, down by Rs.5.40 or 1.69%. The stock hit an intraday high of Rs.318 and low of Rs.313.

The total traded quantity was 7750 compared to 2 week average of 45813.

Source : Equity Bulls

Keywords