Gujarat NRE Coke allots 4502016 Equity Shares upon conversion of FCCBs

Gujarat NRE Coke Ltd has announced that the Committee of the Board of Directors of the Company at its meeting held on June 26, 2009, has issued and allotted 45,02,016 Equity Shares of Rs. 10/- each at a premium of Rs 34.64 per share pursuant to Conversion Notice(s) received from the holder(s) of FCCBs for conversion of FCCBs of US$ 45,00,000.

Consequently, the Paid-up Capital of the Company has increased from 47,24,19,762 Equity Shares of Rs. 10/- each to 47,69,21,778 Equity Shares of Rs. 10/- each.

The stock closed on Friday at Rs.49.85, up by Rs.0.45 or 0.91%. The stock hit an intraday high of Rs.50.85 and low of Rs.48.80.

The total traded quantity was 1064239 compared to 2 week average of 2070404.

Source : Equity Bulls

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