SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Gitanjali Gems redeems FCCBs worth $110 m

29 Nov 2011 Evaluate

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

Peers
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..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×