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Prakash Industries reduces its debt by around Rs 67 crore

11 May 2017 Evaluate

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.

Peers
Company Name CMP
JSW Steel 1236.20
Tata Steel 173.90
Steel Authority 168.65
Jindal Stainless 733.95
APL Apollo Tubes 2155.00
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