Alok Industries revises FCCB conversion price to Rs 68.39

Alok Industries Ltd has announced that the Company's unsecured Foreign Currency Convertible Bonds (FCCBs) aggregating to USD 55 million (Series B Bonds) issued and allotted in March and June 2005. As per the terms of the Offering Circular dated May 26, 2005, the conversion price for the Series B Bonds was to get adjusted on account of the rights issue in accordance with the formula prescribed in the said Offering Circular.

It may be noted that on account of the rights issue, the conversion price for the Series B Bonds, originally fixed at Rs 71.5875 per share, stands revised to Rs 68.39 per share.

The stock was trading at Rs.20.90, up by Rs.0.05 or 0.24%. The stock hit an intraday high of Rs.21.15 and low of Rs.20.55.

The total traded quantity was 1820359 compared to 2 week average of 3264951.

Source : Equity Bulls

Keywords