Pidilite Industries allots 390134 equity shares pursuant to conversion of FCCBs

Pursuant to the Offering Circular dated December 03, 2007, Pidilite Industries Ltd had issued and allotted 400 Zero Coupon Foreign Currency Convertible Bonds (Bonds) of US$ 100,000 each aggregating to US$ 40 million.

The Foreign Currency Convertible Bonds (Share Allotment) Committee at its meeting held on October 01, 2012 has, in accordance with the terms of issue of the said Bonds, allotted 3,90,134 equity shares to the investor who has exercised its right to convert, into equity shares, the ten Bonds of US $ 100,000 each.

There are 299 Bonds aggregating US $ 29.9 million outstanding, as on date.

The Pidilite Industries Ltd stock closed the day at Rs.211.75, up by Rs.5.35 or 2.59%. The stock hit an intraday high of Rs.224 and low of Rs.206.70.

The total traded quantity was 1.35 lakhs compared to 2 week average of 0.24 lakhs.

Source : Equity Bulls

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