Bhagyanagar India repaid foreign currency convertible bonds (FCCBs) worth USD 14 million on October 11, 2011. Narender Surana, managing director, Bhagyanagar India speaking to CNBC-TV18 said there are outstanding FCCBs. However, the total debt on the books is nearly Rs 70 crore and turnover is in the range of Rs 250 crore.
Post repayment of FCCBs the company is now planning to do a buyback of approximately Rs 20 crore in six months from now. The company is also enhancing the capacity of its copper smelting plant from 15,000 tonne to 20,000 tonne. This expansion is expected to be completed by December. Below is the edited transcript of SuranaDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
