Prakash Industries Ltd allots 529978 Equity Shares on conversion of FCCBs

Prakash Industries Ltd has received notices from FCCB holder(s) for conversion of 10 Nos. FCCB (US$ 50,000 each) in to 5,29,978 Nos. equity shares of Rs.10/- each of the Company in accordance with restructuring terms accepted by FCCB holder(s). Accordingly, the FCCB Conversion Committee of the Company in its meeting held on July 13, 2016 has allotted 5,29,978 equity shares to the said FCCB holders. Consequent upon the aforesaid conversion, the paid up share capital of the Company has increased from Rs. 1,35,07,14,910/- to Rs.1,35,60,14,690/-.

Shares of PRAKASH INDUSTRIES LTD. was last trading in BSE at Rs.38.65 as compared to the previous close of Rs. 39.85. The total number of shares traded during the day was 88675 in over 713 trades.

The stock hit an intraday high of Rs. 39.9 and intraday low of 38.45. The net turnover during the day was Rs. 3471054.

Source : Equity Bulls

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