Reliance Energy's FCCB Conversion Into Equity

Reliance Energy has converted foreign currency convertible bonds (FCCBs) of $112.84 million (about Rs 507 crore) into equity shares during the last 30 days. The company now is looking for early conversion of the remaining bonds worth Rs 293 crore. The company had issued FCCBs of $178.05 million (Rs 800.18 crore). Out of this, bonds aggregating $112.84 million have been converted into equity shares at the conversion price of Rs 1,006.92 per share. The FCCBs now outstanding amount to $65.22 million (Rs 293.09 crore).