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Educomp's FCCB conversion at 28% premium

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BS Reporter Mumbai
Educomp Solutions has set a conversion price of Rs 2,949.83 per share for its zero coupon convertible bond of $80 million.

The stock closed around Rs 2,296 on the BSE today - indicating a conversion premium of 28%.

The bonds, due on July 26, 2012, will have an yield to maturity of 7% (semi annual basis). The redemption price at maturity would be 141.087% of the issue price.

According to a release issued by the company to the BSE today, application will be made for the bonds to be listed on the Singapore Exchange Securities Trading, and for in-principle approval for shares to be issued upon conversion of the bonds to be listed on the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE).

 

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First Published: Jun 22 2007 | 2:45 PM IST

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