TVS Srichakra Ltd converts OCDs of TVS Srichakra Investments Ltd into shares

TVS Srichakra Ltd had acquired 3,45,900 unsecured optionally convertible debentures (OCDs) of Rs.1000/- each of TVS Srichakra Investments Ltd, a wholly owned subsidiary of the Company, by way of converting unsecured loan into OCDs and subscribing to 1,00,000 OCDs of Rs.1000/- each through fresh issue of OCDs.

Pursuant to the terms of the issue, the above OCDs, together with interest accrued in the books, are being converted into 40,42,092 equity shares of Rs.122.69 each (Rs.10/- face value and Rs.112.69 as securities premium), in two tranches i.e. 7th January 2021 and 15th February 2021.

Shares of TVS SRICHAKRA LTD. was last trading in BSE at Rs.1860.2 as compared to the previous close of Rs. 1825.85. The total number of shares traded during the day was 1692 in over 423 trades.

The stock hit an intraday high of Rs. 1887.05 and intraday low of 1822.65. The net turnover during the day was Rs. 3151283.

Source : Equity Bulls

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