Prakash Industries allots 328800 Equity Shares on conversion of FCCBs

Prakash Industries Ltd has announced that the Company has received notices from FCCB holders for conversion of 12 Nos. bonds (US$ 1,00,000 each) in to 3,28,800 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 February 27, 2010 has allotted 3,28,800 equity shares pursuant to conversion of 12 Nos. bonds.

The stock was trading at Rs.207.75, up by Rs.5.35 or 2.64%. The stock hit an intraday high of Rs.212.20 and low of Rs.202.55.

The total traded quantity was 139483 compared to 2 week average of 87731.

Source : Equity Bulls

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