Pokarna Ltd. said it had partially redeemed 2077 bonds constituting total face value of $2.077 million by utilizing External Commercial Borrowing from Union Bank of India.
The company had issued zero coupon Foreign Currency Convertible Bonds (FCCBs) aggregating to $12 millions in March 2007, which was due for redemption on March 29, 2012.
Of these FCCBs, the company, in December 2012, partially redeemed 3700 units constituting total face value of $3.7 millions, and on May 15, 2013 another 3762 units were redeemed constituting total face value of $3.762 million. The company further redeemed 2077 units having value of $2.077 million.
The company had issued zero coupon Foreign Currency Convertible Bonds (FCCBs) aggregating to $12 millions in March 2007, which was due for redemption on March 29, 2012.
Procedural formalities relating to the marking down of the said Bonds have been initiated and are under progress, the company said.
The balance outstanding position of the units would stand reduced to 2461 units with face value of $2.461 millions after the redemption of the aforesaid Bonds.
At the BSE, Pokarna closed Tuesday's trading at Rs79.9, up 4.86 percent from the previous close.
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