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Jaiprakash Power Ventures Limited cancels outstanding Foreign Currency Convertible Bonds

Jaiprakash Power Ventures Limited cancels outstanding Foreign Currency Convertible Bonds ....

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Jaiprakash Power Ventures Limited allots shares on conversion of FCCBs

Jaiprakash Power Ventures Limited allots shares on conversion of FCCBs
Posted On:
2020-12-28 00:42:52
(Time Zone: Arizona, USA)
Pursuant to the Second Supplementary Trust Deed dated 13th December, 2019, all the outstanding Foreign Currency Convertible Bonds (FCCB) aggregating to US $ 101,421,203 were mandatorily converted into equity shares of the Company. Accordingly, FCCBs representing US$ 83,358,594 (equivalent to INR 591,21,41,600 @ 1 US$ = INR 70.9242) were converted into 49,26,78,462 equity shares of Rs.10/- each at a conversion price of Rs.12/- per share upon mandatory conversion of FCCBs into equity shares from whom the Company received conversion notices as on Mandatory Conversion Record Date of 16th January, 2020.
All bonds were marked down on Completion date i.e. 11th February, 2020. As per Clause 6.7.10 of Second Supplementary Trust Deed, a Deed of Covenant was executed on 7th February, 2020 giving limited right to the Residual Bond Holders. Th ....

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