GTL Infrastructure, the telecom tower company has said that a committee is scheduled to meet on Tuesday for discussing conversion of USD 5 million (Rs 33.35 crore) foreign debt into equity.

The company has said in a BSE filing that “Meeting of the committee will be held on Tuesday, November 8, 2016 to consider allotment of equity shares consequent to conversion notices received for conversion of FCCBs at a conversion price of Rs 10 per share.”

GTL infrastructure, as per the filing had raised total debt of USD 226.25 million (Rs 1,509 crore) via bonds that include USD 111.74 million (Rs 745.3 crore) worth of Zero Coupon Compulsory Convertible bonds (ZCCCB) due 2017 and USD 207.54 million (Rs 1,384.29 crore) worth of interest bearing convertible bonds due 2017.

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