Gujarat NRE allots 21,43,680 equity shares upon Conversion of FCCBs

Gujarat NRE Coke Ltd has announced that the Committee of the Board of Directors of the Company at its meeting held on September 21, 2007, has allotted 63,43,414 Shares of Rs 10/- each at a premium of Rs 38.04 per share and 21,43,680 shares of Rs 10 each at a premium of Rs 52.50 per share of the Company pursuant to Conversion notices received from the holders of FCCBs.

The stock was trading at Rs.91.50, up by Rs.5.15 or 5.96%. The stock hit an intraday high of Rs.92.50 and low of Rs.86.80.

The total traded quantity was 828839 compared to 2 week average of 1958740.

Source : Equity Bulls

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