 "Videocon fully redeems FCCBs of $194 million")
Videocon Industries said that it fully redeemed $194.40 million (about Rs 1,290 crore) foreign currency convertible bonds (FCCBs) through a combination of cash payout and fresh FCCBs.
"The company has fully redeemed FCCBs aggregating to $194.40 million, which were issued in December 2010," the company said today in a filing to the BSE. It paid $97.2 million (Rs 644.87 crore) along with applicable interest and fees in cash and issued another series of foreign currency convertible bonds of $97.2 million on Wednesday as a part of redemption process.
In December 2010, the company had announced raising $200 million to finance its new and existing projects. The firm had said the proceeds will be used in overseas direct investment in joint ventures and wholly-owned subsidiaries and other purposes.
The company’s stock closed at Rs 121.60, up 0.4%, 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 →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
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
SAVE 25%