BackHindustan Motors announces equity share, debenture issue
The issue is part of the company's debt restructuring programme
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Kolkata: Hindustan Motors Ltd on Tuesday announced that it will issue to lenders a mix of equity shares and debentures worth Rs43.5 crore as a part of a debt restructuring programme.
It will issue to lenders 23.8 million equity shares at a price of Rs9.44 a share aggregating to Rs22.5 crore, the company said in a regulatory filing.
It will also issue 205.3 million secured non-convertible debentures aggregating to Rs20.5 crore, it said.
Meanwhile, the company said that it posted a net profit of Rs12.44 crore in the quarter ended 30 June compared to a loss of Rs1.16 crore in the year ago period on account of profits booked by selling its Chennai factory to a subsidiary Hindustan Motors Finance Corp. Ltd.
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