Man Industries resets FCCB conversion price

Man Industries India Ltd has announced that the Company had issued Foreign Currency Convertible Bonds (FCCB) vide its offering circular dated May 22, 2007 aggregating US $ 50,000,000 zero percent Convertible Bonds due 2012 and it provides for a Conversion Price Reset based on the pre fixed criteria.

Accordingly as on the Reset date as per terms of the Offering Circular, Conversion Price has been adjusted in accordance with the pre fixed criteria.

The stock closed the day at Rs.34.95, up by Rs.3.15 or 9.91%. The stock hit an intraday high of Rs.34.95 and low of Rs.34.25.

The total traded quantity was 324443 compared to 2 week average of 428292.

Source : Equity Bulls

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