Rolta India redeems Foreign Currency Convertible Bonds (FCCBs) Worth $134.7 m due in June 2012

MUMBAI, India, June 28, 2012 /PRNewswire/ -- Rolta India today announced that it has redeemed the outstanding Foreign Currency Convertible Bonds (FCCBs), aggregating US$ 134.7 Million including redemption premium of US$ 38 Million on the due date. After this redemption there are no FCCBs outstanding.  The Company today made the payment to Principal Agent of FCCBs – Deutsche Bank AG, London Branch.

The paid up capital of the Company will remain unchanged post redemption of these FCCBs. Accordingly, Rolta India Limited will not be required to allot 16,578,519 equity shares of Rs. 10 each which otherwise could have arisen out of the potential conversion of the said FCCBs.

Commenting on this redemption, Mr. K. K. Singh, Chairman and Managing Director, Rolta India Limited said, "We are very pleased to announce full payment of outstanding FCCBs before the maturity date. This underlines the confidence of the financial community/banks in our Company and its strong business model amid uncertain times and volatile foreign exchange environment."

About Rolta: Rolta is a leading provider of innovative IT solutions for many vertical segments, including Utilities, Governments, Transportation, Process, Power, Banking and Insurance.  These enterprise level solutions are built around Rolta's intellectual property and domain expertise to offer unique business intelligence for impactful insights for effective decision making.  Rolta's solutions framework includes Geospatial Fusion™, a suite to integrate disparate spatial and business data; Rolta OneView™, a BI solution for operational excellence; and Rolta iPerspective™, a unique platform for SOA and "Cloud" enablement.  Rolta's intellectual property repository contains cutting-edge software for mapping and earth sciences, providing the foundation for Defense and Homeland Security solutions including C4ISTAR information systems, Military Communications, Digital Soldier, and Vehicle Systems.  Rolta is a multinational organization headquartered in India, which has executed projects in over 40 countries. Rolta has a countrywide infrastructure and international subsidiaries across the globe. Forbes Global ranked Rolta amongst the "Best 200 under a Billion" four times in six years.  The Company is listed on the Bombay Stock Exchange and National Stock Exchange in cash and F&O segment, and forms part of various indices on BSE/NSE.  The Company's GDRs are listed on the Main Board of London Stock Exchange.

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Disclaimer: This press release includes statements that are not historical in nature and that may be characterized as "forward-looking statements", including those related to future financial and operating results, benefits and synergies of the Company's brands and strategies, future opportunities and the growth of the market for open source solutions. You should be aware that Rolta's actual results could differ materially from those contained in the forward-looking statements, which are based on current expectations of Rolta management and are subject to a number of risks and uncertainties, including, but not limited to, Rolta's ability to integrate acquired operations and employees, Rolta's success in executing its strategies, Rolta's ability to take a competitive position in the industry, business conditions and the general economy, market opportunities, potential new business strategies, competitive factors, sales and marketing execution, shifts in technologies or market demand, and any other factors. We may make additional written and oral forward-looking statements but do not undertake, and disclaim any obligation, to update them.

SOURCE Rolta