Patel Engineering allots shares on conversion of OCPS

The Meeting of the Allotment Committee of Patel Engineering Ltd will be held on March 31, 2014 to consider the letters received from the 2 Allottees of Zero Coupon Optionally Convertible Preference Shares ("OCPS") exercising their option to convert 64,17,174 OCPS allotted to them on March 21, 2014, into 64,17,174 Equity Shares of Re. 1 each at a premium of Rs. 56.50 per share as per terms & conditions of OCPS.

Shares of PATEL ENGINEERING LTD. was last trading in BSE at Rs.59.2 as compared to the previous close of Rs. 59.2. The total number of shares traded during the day was 89985 in over 1049 trades.

The stock hit an intraday high of Rs. 60.7 and intraday low of 58.8. The net turnover during the day was Rs. 5378696.

Source : Equity Bulls

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