ICSA India allots 1342500 Equity Shares on conversion of FCCBs

ICSA India Ltd has announced that the Board of Directors of the Company at its meeting held on January 17, 2008, has considered and allotted 13,42,500 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 7.5 Million USD at conversion price of Rs 250/-.

The outstanding amount of FCCBs after this present conversion to Equity stands at 21 Million USD.

Source : Equity Bulls

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