GTL Infra issues 2.98 cr shares at 10 each to FCCB holders

gtlGTL Infrastructure said that it has issued 2.98 crore equity shares to holders of its foreign currency convertible bonds.

The shares are issued at a conversion price of Rs 10 per share.

The bonds were issued in 2012 and are due next year.

FCCB are issued by a company which can be redeemed either at maturity or at a price assured by the issuer. In case the company fails to reach the assured price, bond issuer is to get it redeemed.

The current price of the stock is Rs 5.35 per share.

GTL Infrastructure is a telecom tower provider. It has a portfolio of over 27,839 towers located across India.