CCDs are zero coupon debentures and would be mandatorily converted into equity of the Issuer at the end of 5 years. The issuance would strengthen the balance sheet of ABMWL and the funds would be utilized for business expansion. Aditya Birla Nuvo Limited ("ABNL"), the 88.28% shareholder of the Issuer, has provided an option to the CCD investors to sell the CCDs to ABNL at the end of two years and annually thereafter up to five years.