Prakash Industries allots 876800 equity shares on conversion of FCCBs

Prakash Industries Ltd has announced that the Company has received notice from FCCB holder for conversion of 32 Nos. bonds (US$ 1,00,000 each) in to 8,76,800 Nos. equity shares of Rs. 10/- each of the Company. Accordingly, the Allotment of Committee of the Board of Directors of the Company in its meeting held on March 27, 2010 has allotted 8,76,800 equity shares pursuant to conversion of 32 Nos. bonds.

The stock closed the day at Rs.218.90, down by Rs.0.70 or 0.32%. The stock hit an intraday high of Rs.224.45 and low of Rs.218.10.

The total traded quantity was 55634 compared to 2 week average of 201233.

Source : Equity Bulls

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