Gitanjali Gems, one of the largest integrated branded jewellery companies, has redeemed its Foreign Currency Convertible Bonds worth $110 million. Gitanjali Gems issuance of one per cent FCCB worth $110 million matured on November 25. Out of the total issuance, 63 per cent was converted into equity shares and balance was redeemed at a premium. A total payment of $57.2 million was made to redeem the bond.
Many of the subscribers of the bond had opted for conversion into equity as the company's share price was trading at significantly higher than the conversion price of Rs 220. Effective price of Rs 312 was the breakeven for the bondholders. After conversion the total outstanding shares of the company have increased from 84.9 million shares as last fiscal to 91.1 million shares
| Company Name | CMP |
|---|---|
| Titan Co | 4512.90 |
| Kalyan Jewell.India | 417.30 |
| Rajesh Exports | 121.98 |
| Senco Gold | 324.10 |
| Thangamayil Jeweller | 4129.85 |
| View more.. | |
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