Gujarat NRE Coke allots 1818900 equity shares upon conversion of FCCBs

Gujarat NRE Coke Ltd has announced that the Committee of the Board of Directors of the Company at its meeting held on March 17, 2008, has issued and allotted 18,18,900 Equity Shares of Rs 10/- each at a premium of Rs 38.04 per share and 5,00,192 Equity Shares of Rs 10/- each at a premium of Rs 52.50 per share respectively pursuant to Conversion Notice(s) received from the holder(s) of FCCBs for conversion of FCCBs of US$ 20,00,000 and US$ 7,00,000 respectively.

Consequently, the Paid-up Capital of the Company has increased from 33,14,83,524 Equity Shares of Rs 10/- each to 33,38,02,616 Equity Shares of Rs 10/- each.

The stock closed the day at Rs.145.65, down by Rs.7.05 or 4.62%. The stock hit an intraday high of Rs.149.90 and low of Rs.144.50.

The total traded quantity was 1232719 compared to 2 week average of 2420028.

Source : Equity Bulls

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