Titan to issue 21.13 PCDs
The Financial Express — February 8, 2006

Titan Industries, a Tata group company, on Tuesday said it will issue 21.13 lakh partly convertible debentures (PCDs) on rights basis to the shareholders, It would issue 21.13 lakh PCDs of Rs 600 each for cash at par aggregating to Rs 126 crore on rights basis to the existing shareholders in the ratio of 1 PCD for every 20 equity shares held on March 6, it informed the Bombay Stock Exchange (BSE) Ltd. Each PCD comprises of two portions, where in the convertible portion has a face value of Rs 350 and is convertible into one equity share of Rs 10 at a premium of Rs 340 per share, it said.