Subex receives RBI approval for restructuring of FCCBs

Subex Ltd has announced with reference to the earlier annoucement dated September 25, 2009 regarding Restructuring of US$180 million 2% Coupon Convertible Unsecured Bonds due 2012 issued by the Company, that the Company has received approval from the Reserve Bank of India for proceeding with the proposed restructuring of the US$ 180 million 2% Coupon Unsecured Foreign Currency Convertible Bonds by way of an exchange offer.

The stock closed the day at Rs.85, up by Rs.2.50 or 3.03%. The stock hit an intraday high of Rs.86.55 and low of Rs.82.

The total traded quantity was 245173 compared to 2 week average of 76791.

Source : Equity Bulls

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