Prakash Industries allots 2438600 Equity Shares on conversion of FCCBs

Prakash Industries Ltd has announced that the Company has received notices from FCCB holders for conversion of 89 Nos. bonds (US$ 1,00,000 each) in to 24,38,600 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 16, 2010 has allotted 24,38,600 equity shares pursuant to conversion of 89 Nos. bonds.

The stock closed the day at Rs.194.95, down by Rs.7.55 or 3.73%. The stock hit an intraday high of Rs.203 and low of Rs.193.20.

The total traded quantity was 179129 compared to 2 week average of 240345.

Source : Equity Bulls

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