Subex allots 2729093 Equity Shares upon Conversion of FCCBs

Subex Ltd has announced that the Allotment Committee of the Board of Directors of the Company has issued 2,729,093 equity shares upon conversion of FCCBs of principal amount of US$ 4.55 million by the holders of Company's US$ 98.7 million 5% Coupon Convertible Unsecured Foreign Currency Convertible Bonds. Post the conversion, FCCBs aggregating to US$ 86.9 million are outstanding.

Consequently the paid up share capital of the Company has increased from Rs. 391,980,560 to 419,271,490.

The stock closed the day at Rs.95.25, up by Rs.0.50 or 0.53%. The stock hit an intraday high of Rs.98.50 and low of Rs.95.

The total traded quantity was 332602 compared to 2 week average of 527677.

Source : Equity Bulls

Keywords