Graphite India annulled allotment of 584991 shares

Graphite India Ltd has announced that the Company had, on February 01, 2010, announced about allotment of 584,991 equity shares of Rs. 2/- each arising out of conversion of 675 FCCBs of USD 1000 each. In view of the conversion price being below the floor price prescribed, the said allotment has been annulled. Consequently, the share capital of the Company remains at 170,973,137 shares of Rs. 2/- each aggregating Rs. 34,19,46,274.

The stock was trading at Rs.88.55, down by Rs.0.05 or 0.06%. The stock hit an intraday high of Rs.89.50 and low of Rs.88.

The total traded quantity was 80425 compared to 2 week average of 155167.

Source : Equity Bulls

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