Motherson Sumi Systems Converts FCCBs into 5985000 Equity Shares

Motherson Sumi Systems Ltd has announced that the Committee of Directors of the Company at its meeting held on March 18, 2010, has made the allotment of 59,85,000 Equity Shares of Rs. 1/- each pursuant to conversion of Zero coupon Foreign Currency Convertible Bonds of Euro 8.55 Millions.

Post allotment of above shares, the paid up capital of the Company stands at Rs. 37,07,43,800/- and balance of FCCBs at Euro 24 Millions.

The stock closed the day at Rs.138.35, down by Rs.3.40 or 2.40%. The stock hit an intraday high of Rs.141.70 and low of Rs.137.10.

The total traded quantity was 19212 compared to 2 week average of 75726.

Source : Equity Bulls

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