Prakash Industries allots 685000 Equity Shares on conversion of FCCBs

Prakash Industries Ltd has announced that the Company has received a notice from FCCB holder for conversion of 25 Nos. bonds (US$ 1,00,00 each) in to 6,85,000 Nos. equity shares of Rs. 10/- each of the Company. Accordingly, Allotment Committee of the Board of Directors of the Company in its meeting held on December 05, 2009 has allotted 6,85,000 equity shares pursuant to conversion of 25 Nos. bonds.

The stock was trading at Rs.152.90, up by Rs.0.05 or 0.03%. The stock hit an intraday high of Rs.157.95 and low of Rs.151.10.

The total traded quantity was 304819 compared to 2 week average of 143775.

Source : Equity Bulls

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