Sintex Industries allots 16,26,093 shares on conversion of FCCBs

Sintex Industries Ltd has announced that pursuant to the approval of the (i) shareholders of the Company at the Extra Ordinary General Meeting of the Company held on October 10, 2006; (ii) the Committee of Directors (CoD) at its meeting held on July 27, 2007, has allotted 16,26,093 equity shares of Rs 2/- each of the Company to Foreign Currency Convertible Bonds ("FCCB") holders on the exercise their conversion right.

Pursuant to the allotment of 16,26,093 equity shares of Rs 2/- each of the Company as aforesaid, the paid up equity share capital of the Company as on July 27, 2007 stands increased to 11,48,56,164 equity shares of Rs 2/- each amounting to Rs 22,97,12,328/- from 11,32,30,071 equity shares of Rs 2/- each amounting to Rs 22,64,60,142.

The stock closed on Friday at Rs.285.70, down by Rs.14.25 or 4.75%. The total traded quantity was 120147 compared to 2 week average of 191543. The stock hit an intraday high of Rs.297 and low of Rs.285.

Source : Equity Bulls

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