Graphite India allots 584991 Shares on FCCB conversion

Graphite India Ltd has announced that the Company had in September 2005 issued 1% Foreign Currency Convertible Bonds (FCCBs) due 2010 aggregating US$ 40 million.

The Committee of Directors have allotted 584,991 equity shares of Rs. 2/- each on conversion of 675 FCCBs aggregating US$ 675,000 at a conversion price of Rs. 50.77 per share. Post allotment the paid-up capital of the Company has increased to Rs. 34,31,16,256/- from Rs. 34,19,46,274/-.

The stock was trading at Rs.91.30, up by Rs.0.80 or 0.88%. The stock hit an intraday high of Rs.92 and low of Rs.90.

The total traded quantity was 46111 compared to 2 week average of 132690.

Source : Equity Bulls

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