XL Telecom resets FCCB conversion price to Rs 160

XL Telecom & Energy Ltd has announced that the Company has issued notice to the Bank of New York Mellon, London, who are Trustees for Foreign Currency Convertible Bonds (FCCBs) that as per Clause 5.28 of the Offering Circular, the initial conversion price of FCCBs was reset from Rs 260.00 to Rs 160.00.

The XL Telecom stock closed the day at Rs.51.80, up by Rs.2 or 4.02%. The stock hit an intraday high of Rs.52.25 and low of Rs.49.90.

The total traded quantity was 44711 compared to 2 week average of 36555.

Source : Equity Bulls

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