Era Infra Engineering allots 168083 shares on Conversion of FCCBs

Era Infra Engineering Ltd has announced that the Company has received a Conversion Notice from Brookdale India Value Fund Ltd, through Citi Bank for converting 6 Foreign Currency Convertible Bond (FCCB) of US$ 1,00,000 each.

Accordingly the Share Allotment Committee at its meeting held on March 25, 2010, allotted 1,68,083 Equity Shares of Rs. 2/- each for cash at a premium of Rs. 156.60 by conversion of Bonds worth USD 6,00,000.

With the allotment of the above shares the equity base of the Company stand increased from present level of 17,89,98,243 to 17,91,66,325 (Both inclusive) equity shares of Rs. 2/- each.

The stock closed the day at Rs.224, up by Rs.0.20 or 0.09%. The stock hit an intraday high of Rs.225.80 and low of Rs.223.75.

The total traded quantity was 263132 compared to 2 week average of 272340.

Source : Equity Bulls

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