"The company proposes to give all bondholders an option to exchange their existing bonds with 50 per cent cash to be paid in three tranches by April 2017 and the balance 50 per cent due on each bond be exchanged with new foreign currency convertible bond (FCCB) with a tenure of 5 years," Prakash Industries said, in a regulatory filing.
The integrated steel and power company further said the execution of the offer is subject to necessary approvals.
The net sales grew to Rs 687 crore in the quarter, against Rs 670.58 crore a year ago.
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