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Prakash Industries reduces debt by Rs 110 crore

22 Aug 2017 Evaluate

Prakash Industries has reduced its debt by around Rs 110 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, $17.00 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 1268.30
Tata Steel 187.95
Steel Authority 183.10
Jindal Stainless 739.60
APL Apollo Tubes 2190.00
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