Indian companies circulating the FCCBs

Most of Indian firms / companies have borrowed afresh to meet their foreign currency convertible bonds (FCCB) obligations in 2012 as it was unprofitable to convert it into shares and companies were unable to pay the redeemable amount. Of the 45 Indian companies whose FCCBs were due for redemption between March and mid-October 2012, 19 managed to redeem the bonds on the due dates. The list includes Reliance Communications, Strides Arcolab, Tata Motors, Tata Steel and Jaiprakash

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