KEI Industries Ltd redeems unsecured FCCBs on maturity

KEI Industries Ltd has successfully redeemed the outstanding Foreign Currency Convertible Bonds (FCCBs) of USD 16,600,000 (USD 16.60 Million) together with redemption premium and interest, totalling to USD 23,427,314.33. With this payment, the entire FCCBs liability has been extinguished. The Company has made the repayment of FCCBs as per schedule / in line with the terms and conditions of the FCCB Offering Circular, underlining the Company's strong fundamentals and values.

The Company had issued FCCBs aggregating to USD 36 Million on November 29, 2006. After conversions and buyback / repurchase of FCCBs totalling USD 19,400,000 (USD 19.40 Million) from time to time, (FCCBs) of USD 16,600,000 (USD 16.60 Million) were outstanding for redemption / payment on maturity date i.e. November 30, 2011.

The stock was trading at Rs.14.80, down by Rs.0.50 or 3.27%. The stock hit an intraday high of Rs.15.55 and low of Rs.14.75.

The total traded quantity was 8747 compared to 2 week average of 29698.

Source : Equity Bulls

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