Prakash Industries has reduced its debt by around Rs 67 crore on account of conversion of Foreign Currency Convertible Bonds (FCCB). The company had issued $17.85 million FCCB in September 2015, out of which, $9.90 million bonds have since been converted.
Prakash Industries is an integrated steel and power company. Its products include coal mines, iron ore mines, sponge iron, power, steel melting shop and ferro alloys.