Advanta Limited approves conversion of 25 FCCBs to GDRs

The Board of Directors of Advanta Ltd at its meeting held on December 31, 2015, have approved the conversion of 25 Foreign Currency Convertible Bonds (FCCBs) into Global Depository Receipts (GDRs).

The Board also approved the allotment of 39,72,070 equity shares of Rs. 2 each to JP Morgan Chase Bank, NA - Depository Bank, to issue appropriate GDRs.

Shares of Advanta Limited was last trading in BSE at Rs.448.7 as compared to the previous close of Rs. 444.55. The total number of shares traded during the day was 1030 in over 45 trades.

The stock hit an intraday high of Rs. 449 and intraday low of 441. The net turnover during the day was Rs. 460140.

Source : Equity Bulls

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