Alps Industries Ltd converts OCCPS to CRPS

Alps Industries Ltd had allotted 2,69,34,146 6% Optionally Convertible Cumulative preference shares to banks/financial institutions on preferential basis at an issue price of Rs. 10/- per share in terms of CDR scheme of the company on August 22, 2012 and in terms of the approval taken from the shareholders of the company and from the stock exchanges.

As none of the allottees have exercised the option to convert the OCCPS into Equity shares within 18 months from the date of allotment i.e. latest by February 21, 2014, the OCCPS have been converted into 6% Cumulative Redeemable Preference Shares (6% CRPS) both are under Category 'B' at an issue price and face value of Rs. 10/- each instruments w.e.f. February 22, 2014, in terms of the Corporate Debt Restructuring (CDR) Scheme and terms of issue.

Shares of ALPS INDUSTRIES LTD. was last trading in BSE at Rs.1.61 as compared to the previous close of Rs. 1.62. The total number of shares traded during the day was 32151 in over 47 trades.

The stock hit an intraday high of Rs. 1.63 and intraday low of 1.54. The net turnover during the day was Rs. 51004.

Source : Equity Bulls

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