Prakash Industries allots 109600 equity shares on conversion of FCCBs

Prakash Industries Ltd has announced that the Company has received notice from FCCB holder for conversion of 4 Nos. bonds (US$ 100,000 each) in to 1,09,600 Nos. equity shares of Rs. 10/- each of the Company. Accordingly, the Board of Directors of the Company in its meeting held on January 28, 2010 has allotted 1,09,600 equity shares pursuant to conversion of 4 Nos. bonds.

The stock was trading at Rs.203.90, up by Rs.10.15 or 5.24%. The stock hit an intraday high of Rs.209.40 and low of Rs.196.

The total traded quantity was 392948 compared to 2 week average of 133304.

Source : Equity Bulls

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