Graphite India allots 536973 shares on FCCB conversion

Graphite India Ltd has informed BSE 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 536,973 equity shares of Rs. 2/- each on conversion of 675 FCCBs aggregating US$ 675,000 at a conversion price of Rs. 55.31 per share. Post allotment the paid-up capital of the Company has increased to Rs. 34,30,20,220/- from Rs. 34,19,46,274/-.

The stock was trading at Rs.88.35, up by Rs.1.05 or 1.20%. The stock hit an intraday high of Rs.88.80 and low of Rs.87.

The total traded quantity was 35583 compared to 2 week average of 167450.

Source : Equity Bulls

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