Reliance Petro TOCD redemption date advanced

ENS ECONOMIC BUREAUMUMBAI, DEC 25: Reliance Petroleum Ltd RPL has announced that it advanced the scheduled date of redemption of the non-convertible portion of its outstanding triple option convertible debentures TOCDs, aggregating Rs 960 crore. RPL will make payment of the redemption proceeds on February 3, 2000, to over 900,000 holders of TOCDs. The record date for this purpose is being fixed, with the approval of the stock exchanges, as January 25, 2000, said a release.

RPL redeemed the first instalment of TOCDs worth Rs 320 crore on November 22. The latest round of payment is being made towards the second instalment of Rs 30 per TOCD payable on November 22, 2000 and the third instalment of Rs 30 per TOCD comprising principal of Rs 15 per TOCD, and interest of Rs 15 per TOCD payable on November 22.