A committee of GTL Infrastructure is scheduled to meet tomorrow to discuss conversion of USD 5 million, or Rs 33.35 crore, foreign debt into equity.
"Meeting of the committee will be held on Tuesday, November 8, 2016 to consider allotment of shares consequent on conversion notices received for conversion of FCCBs at a price of Rs 10 per share," the company said in a BSE filing today.
As per the filing, GTL Infrastructure had raised a total debt of USD 226.25 million (Rs 1,509 crore) through bonds which include USD 111.74 million (Rs 745.3 crore) worth of zero coupon compulsory convertible bonds (ZCCCB) due 2017 and USD 207.54 million (Rs 1,384.29 crore) worth interest bearing convertible bonds due 2017.
The company said it has outstanding ZCCCB bonds worth USD 32.72 million as on date. Out of this, notice of conversion for USD 5 million worth ZCCCB bonds have been received by the company.
Post conversion of USD 5 million bonds to equity, the company will be left with bonds worth USD 221.25 million as outstanding debt.
The stock of GTL Infrastructure today closed at Rs 4.5, up by 2.51 per cent compared to its previous close, on BSE.
Disclaimer: No Business Standard Journalist was involved in creation of this content
