RCom allots 221096 Equity Shares on conversion of FCCBs

Reliance Communications Ltd has announced that the Board of Directors of the Company has, pursuant to requests received from the holders of Zero Coupon Foreign Currency Convertible Bonds (FCCBs) of US$ 1,000 each, allotted on October 23, 2007, 2,21,096 equity shares of Rs 5 each at a predetermined premium of Rs 475.68 per equity share.

The allotted equity shares as aforesaid shall rank pari passu in all respect with the existing equity shares of the Company and shall be entitled for full dividend, if declared for the financial year 2007-08.

Consequent upon the said allotment, the paid-up capital of the Company stands increased to 204,54,75,186 fully paid-up equity shares of Rs 5 each.

The stock was trading at Rs.754.90, down by Rs.0.55 or 0.07%. The stock hit an intraday high of Rs.776 and low of Rs.745.60.

The total traded quantity was 1542171 compared to 2 week average of 4302448.

Source : Equity Bulls

Keywords