Man Industries, one of the leading pipe manufacturing company has redeemed outstanding zero coupon Foreign Currency Convertible Bonds (FCCBs) of $64.35 million which also includes premium. The bonds were issued in the year 2007 and redeemed on due date. There are no FCCBs outstanding as on date. After redemption, the company doesn’t have liability towards FCCB.
Earlier this month, the company repurchased Zero Coupon FCCBs worth $0.2 million of face value, listed on the Singapore Exchange Securities Trading, at discount in accordance with permission of Reserve Bank of India.
Man Industries is an ISO 9001/14001/18001 accredited company, is a leading manufacturer of SAW Pipes and coating system for high pressure Oil & Gas applications with a potential production capacity of approximately one million MT of SAW Pipes per annum.
