Natco Pharma allots 2,83,438 shares on conversion of FCCBs

Natco Pharma Ltd has announced that the Committee constituted for the issue of Foreign Currency Convertible Bonds (FCCBs) and related matters at its meeting held on April 16, 2007 has allotted 2,83,438 equity shares of Rs 10/- each at a Conversion price of Rs 121/- per share. These shares were allotted consequent upon conversion of 80 numbers of 1.5% Unsecured Foreign Currency Convertible Bonds due in the year 2007 to the FCCB holders who had exercised their right of conversion of bonds into equity shares. The details are as follows:

Rhodes Diversified - 2,83,438 no of shares

The stock closed the day at Rs.149, up by Rs.1.10 or 0.74%. The total traded quantity was 11180 shares compared to 2 week average of 12438. The stock hit an intraday high of Rs.149.80 and low of Rs.148.

Source : Equity Bulls

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