Subex allots 1589471 Equity Shares upon Conversion of FCCBs

Subex Ltd has announced that the Allotment Committee of the Board of Directors of the Company has issued 1,589,471 equity shares upon conversion of FCCBs of principal amount of US$ 2.65 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$ 84.25 million are outstanding.

Consequently the paid up share capital of the Company has increased from Rs. 419,271,490 to 435,166,200.

The stock was trading at Rs.89.90, down by Rs.1.55 or 1.69%. The stock hit an intraday high of Rs.92.85 and low of Rs.89.10.

The total traded quantity was 126541 compared to 2 week average of 352543.

Source : Equity Bulls

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