Subex allots 1289571 equity shares upon conversion of FCCBs

Subex Ltd has announced that the Allotment Committee of the Board of Directors of the Company has issued 1,289,571 equity shares upon conversion of FCCBs of principal amount of US$ 2.15 million by the holders of Company's US$ 98.7 million 5% Coupon Convertible Unsecured Foreign Currency Convertible Bonds. Post the conversion, FCCBs aggregating to US$ 75.3 million are outstanding.

Consequently the paid up share capital of the Company has increased from Rs. 475,952,630 to Rs. 488,848,340.

The stock was trading at Rs.66.30, down by Rs.2.35 or 3.42%. The stock hit an intraday high of Rs.72.10 and low of Rs.64.80.

The total traded quantity was 1254526 compared to 2 week average of 996913.

Source : Equity Bulls

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