JIK Industries converts Fully Convertible Bonds

JIK Industries Ltd has announced that pursuant to Resolution passed by Board of Directors by circulation on December 23, 2008, the Board has allotted 1,61,38,115 equity shares on conversion at a price of Rs 13.80 (i.e. premium of Rs 3.80 per share) per share to Non-promoter Bond holders holding 32,27,623 Fully Convertible Bonds of face value of Rs 69/- each convertible into 5 equity shares pursuant to Hon'ble BIFR Orders.

The stock was trading at Rs.11.87, down by Rs.0.51 or 4.12%. The stock hit an intraday high of Rs.12.10 and low Rs.11.36.

The total trading quantity was 3847 compared to 2 week average of 10074.

Source : Equity Bulls

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