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Prakash Industries gets nod for issuing new FCCBs

22 May 2017 Evaluate

Prakash Industries has received an approval for issuing new Foreign Currency Convertible Bonds (FCCBs) with a tenure of 5 years 1 day in lieu of all its outstanding obligations on the 5.25% April, 2015 FCCBs subject to having obtained all necessary consent, approvals and compliance with all applicable laws and regulations in relation to the issue, without limitation, obtaining the approvals from RBI, SEBI, Stock Exchanges and shareholders, wherever required.

The board of directors at its meeting held on May 22, 2017 has approved for the same. The relevant date as per the SEBI ICDR Regulations for this issue will be May 22, 2017 and accordingly the floor price in respect of the aforesaid issue be determined.

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.

Prakash Inds. Share Price

143.95 3.10 (2.20%)
17-Apr-2026 16:59 View Price Chart
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