Convertible Bonds: LUX Island Resorts Repays Rs 750 Million to the MIC

Convertible Bonds: LUX Island Resorts has repaid Rs 750 million on the convertible bonds issued by the Mauritius Investment Corporation (MIC). This repayment was made possible due to improved financial performance and ongoing investment projects.

The hotel group's revenue increased by 7.3%. As of July, LUX Island Resorts completed an early repayment of Rs 750 million on the convertible bonds issued by the MIC. This repayment was facilitated by the group's enhanced financial performance and the progress of its investment projects.

These bonds, classified as equity in the financial statements, have affected the capital structure. Consequently, total equity stood at Rs 9.2 billion as of September 30, 2025, down from Rs 9.8 billion as of June 30, 2025. "This decrease is mainly due to the repayment of the convertible bonds, although it is partially offset by an increase in retained earnings and other reserves," management clarified.