Nava Bharat Ventures approves conversion of FCCBs

Nava Bharat Ventures Ltd has announced that the Allotment Committee of the Company at its meeting held on August 25, 2007 has considered and approved the conversion of Foreign Currency Convertible Bonds for JPY 580,000,000 by Deutsche Bank AG, London, in accordance with the terms and conditions of the Offering Circular dated September 29, 2006 and allotted 18,05,820 Equity Shares of Rs 2/- each to Deutsche Bank AG, London, at the prevailing Conversion Price of Rs 132.96.

Source : Equity Bulls

Keywords