ICSA India allots 867500 Equity shares on conversion of FCCBs

ICSA India Ltd has announced that the Board of Directors of the Company at its meeting held on December 24, 2007, has considered and allotted 8,67,500 equity shares of Rs 2/- each to the holders of Foreign Currency Convertible Bonds (FCCBs), on exercise of their option to convert FCCBs aggregating to 5 (Five) Million USD at conversion price of Rs 250/-.

The outstanding amount of FCCBs after this present conversion to Equity stands at 36 Million USD.

Source : Equity Bulls

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