Maharashtra Seamless allots 171844 equity shares against conversion of FCCBs

Maharashtra Seamless Ltd has announced that the Committee of Directors of the Board of the Company at its meeting held on June 13, 2007 has allotted 171,844 No. of Equity Shares of Rs 5/- each of the Company at a Premium of Rs 248.34 per share upon exercise of option of conversion for 1000 No. of Zero Coupon Foreign Currency Convertible Bonds of US$ 1000 each into Equity Shares of the Company.

Consequently, the paid-up Equity Share Capital of the Company has increased from 7,03,61,577 Equity Shares to 7,05,33,421 Equity Shares of Rs 5/- each, as of date.

The stock closed the day at Rs.581.10, down by Rs.3.35 or 0.57%. The stock hit an intraday high of Rs.592 and low of Rs.580.10. The total traded quantity was 6859 compared to 2 week average of 65811.

Source : Equity Bulls

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