Auto component maker Amtek Auto today said that it has redeemed its convertible bonds, which were due for maturity for $145.97 million (about Rs 654.33 crore).
The company in a filing to the Bombay Stock Exchange (BSE) said that it had issued $250 million zero coupon Foreign Currency Convertible Bond (FCCB) in the year 2006.
"Out of this, bonds of $108.6 million were due for maturity along with yield to maturity (YTM) of $37.37 million. The Company has fully paid the entire outstanding amount of $145.97 million against redemption of outstanding bonds along with YTM," the filing said.
Accordingly, after this payment, the company has no outstanding amount of the $250 million raised through FCCBs issued in 2006, it added.
Amtek is a diversified automotive component supplier in the global auto component manufacturing and supply chain.
Shares of the company today closed at Rs 169.70, up by 0.50% from the previous close on the BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app