Sintex Industries Ltd allots equity 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 at its meeting held on August 11, 2007, i.e., the Company has allotted 20,32,616 equity shares of Rs 2/- each of the Company to Foreign Currency Convertible Bonds ("FCCB") holders on the exercise of their conversion right.

Pursuant to the allotment of 20,32,616 equity shares of Rs 2/- each of the Company as aforesaid, the paid up equity share capital of the Company as on August 11, 2007 stands increased to 11,68,88,780 equity shares of Rs 2/- each amounting to Rs 23,37,77,560/-, from 11,48,56,164 equity shares of Rs 2/- each amounting to Rs 22,97,12,328/-.

The stock was trading at Rs.289.60, down by Rs.2.35 or 0.80%. The stock hit an intraday high of Rs.294 and low of Rs.285.30. The total traded quantity was 11699 compared to 2 week average of 269504.

Source : Equity Bulls

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