Himachal Futuristic Allots Equity Shares on Conversion of OFCDs at Rs.21.90

Himachal Futuristic Communications Ltd has announced that Pursuant to the Corporate Debt Restructuring (CDR) Scheme approved by the CDR - Empowered Group, Industrial Development Bank of India Ltd has exercised its option to Convert 20,00,000 Optionally Fully Convertible Debenture (OFCDs) of Rs 100 each into Equity Shares.

The Committee of Board of Directors, therefore, at its meeting held on September 18, 2006 has allotted 1,18,02,739 Equity Shares of Rs 10/- each at a premium of Rs 11.90 per Share.

Therefore, the issued and subscribed Equity Capital of the Company has now been increased by 1,18,02,739 Equity Shares and stands at 42761789 Equity Shares of the face value of Rs 10/- each.

Source : Equity Bulls

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