Gayatri Projects Ltd has made arrangements for repayment of Rs 146.9 crore towards redemption of matured foreign currency convertible bonds.
It remitted in Japanese yen to the Trustee’s account towards redemption. The company proposes to shortly complete the bonds cancellation process and other formalities.
The outstanding bonds matured on August 3. The Hyderabad-based infrastructure company had made part payments. In continuation of this, Gayatri has remitted to the Trustee’s account additional funds raised from IDBI Bank Ltd and through internal accruals.
The repayment has been part financed by internal accruals and External Commercial Borrowing raised from IDBI Bank Ltd.
The shares of the company closed down 3.17 per cent at Rs 116.10 on the BSE.