Outcome of board meeting of Hindusthan Urban Infrastructure

Held on 30 July 2018

The Board of Hindusthan Urban Infrastructure at its meeting held on 30 July 2018 has approved the conversion of existing unsecured loan (including interest thereon) {representing amount payable} to Hindusthan Engineering & Industries aggregating to Rs 95.18 crore as per the books of the company as on 31 July 2018 into Optionally Convertible Debentures and entering into subscription agreement with HEIL.

The OCDs proposed to be issued on preferential basis, shall carry a coupon rate of 1% per annum up to the date of conversion, being convertible into 3,38,753 equity shares of Rs 10 each, at a conversion of Rs 2810 anytime within a period of 18 months or convertible into 9,51,897 preference shares of Rs 1000 each in case the conversion into equity shares does not take place.

 

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