Prakash Industries allots 1781000 Equity Shares on conversion of FCCBs

Prakash Industries Ltd has announced that the Company has received a notice from FCCB holder for conversion of 65 Nos. bonds (US$ 1,00,000 each) in to 17,81,000 Nos. equity shares of Rs. 10/- each of the Company. Accordingly, Allotment Committee of the Board of Directors of the Company at its meeting held on January 15, 2010 has allotted 17,81,000 equity shares pursuant to conversion of 65 Nos. bonds.

The stock was trading at Rs.206.55, down by Rs.1.45 or 0.70%. The stock hit an intraday high of Rs.211.40 and low of Rs.203.50.

The total traded quantity was 156511 compared to 2 week average of 489769.

Source : Equity Bulls

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