xyz XYZ Ltd. has issued 1,000, 12% convertible debentures of 100 each redeemable...
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XYZ Ltd. has issued 1,000, 12% convertible debentures of 100 each redeemable after a period of five years. According to the terms & conditions of the issue, these debentures were redeemable at a premium of 5%. The debenture holders also had the option at the time of redemption to convert 20% of their holdings into equity shares of 10 each at a price of 20 per share and balance in cash. Debenture holders amounting : 20,000 opted to get their debentures converted into equity shares as per terms of the issue. You are required to calculate the number of shares issued and cash paid for redemption of 20,000 debenture holders
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