Dishman Pharmaceuticals allots 7,59,767 shares on conversion of FCCBs

Dishman Pharmaceuticals & Chemicals Ltd has announced that the Board of Directors of the Company at its meeting held on April 16, 2007, has allotted 7,59,767 equity shares of Rs 2/- each of the Company at a premium of Rs 170/- per equity share upon exercise of option of conversion by the FCCB holders for conversion of 0.50% Foreign Currency Convertible Bonds (FCCB) of the principal amount of US$ 3,000,000 into the equity shares of the Company.

Consequently, the paid-up equity share capital of the Company has increased from 7,22,13,077 equity shares of Rs 2/- each to 7,29,72,843 equity shares of Rs 2/- each.

The stock closed the day at Rs.227.60, up by Rs.12.60 or 5.86%. The stock hit an intraday high of Rs.234.40 and low of Rs.214.25. The total traded quantity was 296521 compared to 2 week average of 11944.

Source : Equity Bulls

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