Promoter group acquires NCCRPS and OCCRPS of Wockhardt Ltd

On February 23, 2016, Khorakiwala Holdings and Investments Private Limited, Promoter Group Company, have acquired 43,233,260 Non-Convertible Cumulative Redeemable Preference Shares ('NCCRPS') and 18,528,540 Optionally Convertible Cumulative Redeemable Preference Shares (OCCRPS) of Wockhardt Ltd for an amount aggregating to Rs. 9,26,42,700 and Rs. 26,75,13,694 respectively.

Further the Company has informed that, as the ratio of conversion of OCCRPS into equity shares is dependent on the price to be calculated on the 'Relevant Date', which is future date, it is not possible to ascertain the number of equity shares to be allotted on conversion. Hence, the paid up equity capital of the company and % of total share capital after the conversion of OCCRPS into equity shares is not ascertainable.

Shares of WOCKHARDT LTD. was last trading in BSE at Rs.788.85 as compared to the previous close of Rs. 786.7. The total number of shares traded during the day was 436546 in over 16129 trades.

The stock hit an intraday high of Rs. 794.75 and intraday low of 762. The net turnover during the day was Rs. 340081643.

Source : Equity Bulls

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