Rolta India redeems outstanding FCCBs, soars 5%

Redeemed the outstanding FCCB of $134.7 mn including redemption premium of $38 mn on the due date

Rolta India has soared almost 5% at Rs 79.40 after the IT software services firm said that it has redeemed the outstanding foreign currency convertible bonds (FCCB), amounting of $134.7 million including redemption premium of $38 million on the due date.

"After these redemption there are no FCCBs outstanding. The company made the payment to principal agent of FCCB – Deutsche Bank AG, London branch," the company said in a filing to the stock exchange.

The stock opened at Rs 77.90 and hit a high of Rs 79.45 on the National Stock Exchange. A combined 1.91 million shares have changed hands on the counter till noon deals, against an average sub 600,000 shares that were traded daily in past two weeks.