Manappuram General Finance to consider conversion of 4952499 CCPS into equity shares

Manappuram General Finance & Leasing Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 16, 2009, inter alia, to consider the conversion of 4952499 CCCPS of Rs 100/- each issued by the Company to 2972246 No of equity shares of Rs 10/- each.

The allotment of equity shares on conversion of CCPS as follows.

i. Hudson equity holdings Ltd - 687923
ii. Sequoia Capital India Growth - 687923
iii. AA Development Capital India Fund ILLC - 134433
iv. GHIOF Mauritius - 252063

The Board will also approve a scheme of merger of Mannappuram Finance Tamilnadu Ltd with the Company.

The stock closed the day at Rs.129, up by Rs.2.10 or 1.65%. The stock hit an intraday high of Rs.133.85 and low of Rs.124.65.

The total traded quantity was 5575 compared to 2 week average of 2832.

Source : Equity Bulls

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