OFDM is the most commonly used modulation technique in today's world due to its capability of supporting high data rates. The major disadvantage in using OFDM is its high Peak to Average Power Ratio (PAPR). This makes very difficult for designers to design efficient RF amplifiers for transmission. In this paper a joint technique of Logrithmic Companding and Selective Mapping is presented which efficiently reduces PAPR. Interleaving along with Convolutional Coding is used to improve BER performance hence the word COFDM.