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Standalone Financials
141
CORPORATE OVERVIEW (1-31)
STATUTORY REPORTS (46-122)
FINANCIALS
NOTES FORMING PART OF FINANCIAL STATEMENTS
(iv) Foreign Currency Convertible Notes (FCCN) and Convertible Alternative Reference Securities (CARS) :
The Company issued the FCCN and CARS which are convertible into Ordinary shares or ADSs. Additionally, CARS can be
converted into Qualifying securities* in case there has been a qualifying issue as per the terms of issue. The particulars, terms of
issue and the status of conversion as at March 31, 2012 are given below :
Issue
1% FCCN (due 2011)
0% CARS (due 2012) **
4% FCCN (due 2014)
Issued on
April 27, 2004
July 11, 2007
October 15, 2009
Issue amount (in INR at
US $ 300 million
US $ 490 million
US $ 375 million
the time of the issue)
(
`
1,315.50 crores)
(
`
1,992.71 crores)
(
`
1,794.19 crores)
Face value
US $ 1,000
US $ 100,000
US $ 100,000
Conversion Price per share
`
780.40
`
960.96
`
623.88
at fixed exchange rate
US $ 1 =
`
43.85
US $ 1 =
`
40.59
US $ 1 =
`
46.28
Reset conversion price
`
736.72
`
181.43
`
121.34
(Due to Rights issue,GDS issue
and subdivision of shares)
US $ 1 =
`
43.85
US $ 1 =
`
40.59
US $ 1 =
`
46.28
Exercise period
June 7, 2004 to
October 11, 2011
November 25, 2009
March 28, 2011
to June 12, 2012
(for conversion into
shares or GDSs) and
October 15, 2010 (for
conversion into
ADSs) to
October 9, 2014
Early redemption at the option
any time (in whole
i) after October 11, 2011 i) any time on or after
of the Company subject to
but not in part) in the
at our option (in whole
October 15, 2012 (in
certain conditions
event of certain changes
but not in part)
whole but not in
affecting taxation in India
part) at our option
or
or
ii) any time (in whole
ii) any time (in whole
but not in part) in the
but not in part) in the
event of certain changes
event of certain
affecting taxation in India changes affecting
taxation in India
Redeemable on
April 27, 2011
July 12, 2012
October 16, 2014
Redemption percentage of
the principal amount
121.781%
131.820%
108.505%
Amount converted
US $ 299.10 million
Nil
US $ 257.60 million
Aggregate conversion into
shares / ADRs
2,29,50,915
Nil
1,94,23,734
Aggregate notes redeemed
898
Nil
Nil
Aggregate notes bought back
Nil
170
Nil
Notes outstanding as at March 31, 2012
Nil
4,730
1,174
Amount outstanding as at March 31, 2012 Nil
US $ 473.00 million
US $ 117.40 million
(
`
2,406.74 crores)
(
`
597.36 crores)
Aggregate amount of shares that
could be issued on conversion of
outstanding notes
Nil
10,58,18,480
4,47,77,255 @
* Qualifying securities holders will have no or differential voting rights in comparison to the existing shareholders and will have
no rights to withdraw the underlying shares except upon certain conditions as per the terms of issue.
@ Increased due to cash dividend distribution antidilution adjustment as per terms of issue.
** Classified as current liabilities as maturing before March 31, 2013.
(v) Fixed deposits from public and shareholders :
These are unsecured deposits for a fixed tenor of up to three years bearing interest rates ranging from 8% to 12.5%
(vi) ECB loan schedule of repayment:
Date
Repayment Amount
Repayment Amount
(USD Million)
(
`
crores)*
September 12, 2018
150
763.24
September 12, 2017
150
763.24
September 12, 2016
100
508.83
September 14, 2015
100
508.83
* at exchange rate of 1 US $ =
`
50.8825 as at March 31, 2012.
FINANCIAL HIGHLIGHTS (32-45)