Advanta Ltd approves conversion of 50 FCCBs

The Board of Directors of Advanta Ltd at its meeting held on March 26, 2015, have considered and approved the conversion of 50 Foreign Currency Convertible Bonds (FCCBs) into Global Depository Receipts (GDRs).

The Board approved the allotment of 79,44,140 equity shares of Rs. 2 each to JP Morgan Chase Bank, NA - Depository Bank, who shall issue appropriate GDRs.

Shares of Advanta Limited was last trading in BSE at Rs.417.85 as compared to the previous close of Rs. 429.6. The total number of shares traded during the day was 13118 in over 1410 trades.

The stock hit an intraday high of Rs. 438 and intraday low of 413.05. The net turnover during the day was Rs. 5610520.

Source : Equity Bulls

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