Digital products maker, Moser Baer India Ltd has said that it is planning to restructure dollar convertible bonds worth $150 million that are scheduled to mature on June 21.

The company had earlier issued two tranches of foreign currency convertible bonds (FCCBs) in 2007, each of which was worth $75 million. The company is now forced to either redeem or restructure the bonds because of a sharp fall in its stock prices.

The price for equity conversion for the two issues were fixed at 407.64 rupees and 363.96 rupees per share. The company’s shares have lost a third of its value and were trading at about 10 rupees on Thursday.

The company said in a statement that, “Given the approaching maturity date of the bonds, we wish to inform you that we have been discussing various options in relation to the bonds with certain holders of such bonds.”

Moser Baer will present a plan for restructuring the bonds to their holders for their consideration before the maturity date, the filing with the Bombay Stock Exchange (BSE) said.