Educomp Solutions allots 1,77,250 shares on conversion of FCCBs

Educomp Solutions Ltd has announced that in accordance with the Offering Circular dated October 13, 2006 of USD 25 million Foreign Currency Convertible Bonds (FCCBs) issue Company has received conversion notice in respect of 350 bonds aggregating to US$ 3.5 million from the bond holders. Accordingly, the Board Of Directors by passing the resolution by circulation on June 19, 2007 has allotted 1,77,250 Equity Shares of the Company to the respective Bond holders who have exercised their conversion option.

Further after allotment of 1,77,250 shares, Paid up Share Capital of the Company has increased from Rs 16,36,49,240 consisting of 1,63,64,924 equity shares of Rs 10/- each to Rs 16,54,21,740 consisting of 1,65,42,174 equity shares of Rs 10/- each.

The stock closed the day at Rs.2130.40, up by Rs.245.30 or 13.01%. The stock hit an intraday high of Rs.2169 and low of Rs.1880.10. The total traded quantity was 558122 compared to 2 week average of 132244.

Source : Equity Bulls

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