Gujarat NRE Coke Ltd resets FCCB conversion price

Pursuant to the approval of shareholders and bondholders the Board of Directors of Gujarat NRE Coke Ltd at its meeting held on December 10, 2016, has approved to reset the conversion price of 5.50% Foreign Currency Convertible Bonds (FCCBs) issued in 2012 from Rs. 22.50 per equity share to Rs. 12/- per equity share, subject to approval of other regulatory authorities.

Shares of GUJARAT NRE COKE LTD. was last trading in BSE at Rs.3.37 as compared to the previous close of Rs. 3.38. The total number of shares traded during the day was 382363 in over 295 trades.

The stock hit an intraday high of Rs. 3.46 and intraday low of 3.35. The net turnover during the day was Rs. 1300126.

Source : Equity Bulls

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