Anil Ambani-led Reliance Communications on Tuesday said it has bought back Rs 25.26 crore (about USD 5 million) foreign currency convertible bonds (FCCBs) at discount from the international markets.
In a filing to the Bombay Stock Exchange, Reliance Communications said it has bought back 50 zero coupon FCCBs aggregating Rs 25.26 crore.The repurchased bonds are expected to extinguish on April 15, 2009, it further added.
Last year, the Reserve Bank of India had allowed the corporate houses to buyback FCCBs from the foreign markets if they are trading at a discount of 25 per cent from their book value.
On Monday, shares of Reliance Communications closed at Rs 219.20, up 3.49 per cent on the BSE.
