Gayatri Projects resets FCCB conversion price to Rs 288

Gayatri Projects Ltd has announced that pursuant to Zero Coupon Convertible Bonds Offer Document and Subscription Agreement dated June 29, 2007 between Gayatri Projects Ltd and J. P. Morgan Securities Ltd and Clause 6.7 of Schedule I of the said Agreement, the FCCB Conversion price has been rest to SEBI Floor Price (Regulatory Floor Price) of INR 288 (INR 287.5 rounded to nearest Rupee).

The stock closed the day at Rs.407.20, down by Rs.5.35 or 1.30%. The stock hit an intraday high of Rs.423 and low of Rs.406.10.

The total traded quantity was 91185 compared to 2 week average of 52854.

Source : Equity Bulls

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