Nectar Lifesciences resets FCCB conversion price to Rs 25.996

Nectar Lifesciences Ltd has announced that the Conversion price of FCCBs issued by the Company on April 25, 2006, stand adjusted immediately after the record date for the purpose of sub division of equity shares.

The Conversion Price before the Adjustment : Rs 259.960 and the conversion Price after sub division of every equity shares of Rs 10/- each into 10 equity shares of Re 1/- each, [so that Bond holders entitled to receive the number of Shares of the Company, which such holder would have held or have been entitled to receive after the sub-division, had such Bond been converted immediately prior to the happening of sub-division.] : Rs 25.996.

The Stock closed the day at Rs.151.55, down by Rs.9.95 or 6.16%. The stock hit an intraday high of Rs.171.70 and low of Rs.132.

The total traded quantity was 29026 compared to 2 week average of 16711.

Source : Equity Bulls

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