Mahindra & Mahindra allots 212722 equity shares on conversion of FCCBs

Mahindra & Mahindra Ltd has announced that the Company on November 12, 2007 has allotted 2,12,722 Ordinary (Equity) Shares upon exercise of conversion option by the bondholders of the Zero Coupon Foreign Currency Convertible Bonds (FCCBs) of the Company. The above 2,12,722 Ordinary (Equity) Shares shall rank pari passu in all respects with the existing Ordinary (Equity) Shares of the Company.

With the above allotment of 2,12,722 Ordinary (Equity) Shares all the FCCBs aggregating US$100 million issued in the financial year 2004-05 have been converted into Equity Shares / Global Depositary Receipts (each GDR representing one Equity Share of the Company).

Source : Equity Bulls

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