Bharti Airtel on Tuesday converted 1.50% convertible bonds due 2025 into 34,99,980 shares upon receipt of notice of conversion of FCCBs from the certain holders, the company announced through an exchange filing. The FCCBs converted were valued at $2,53,17,000.
The FCCBs are redeemable between February 27, 2020 and February 7, 2025 at the choice of the FCCB holders.
34,99,980 shares that were allotted to the FCCB holders were given at the face value of Rs 5 and at a conversion price of Rs 521.
The paid-up share capital of the company has been increased to Rs 28,41,41,61,857.50 consisting of 5,58,47,60,456 fully paid-up shares of Rs 5 each and 39,22,87,662 partly paid-up shares of Rs 5 each.
The outstanding principal value of FCCBs as per the Singapore Exchange Limited is reduced at $844.07 million.
Bharti Airtel shares
The shares of Bharti Airtel on Wednesday at 3:08 pm IST were at Rs 866.10, up by 0.11 per cent.