Prakash Industries allots 219200 equity shares on conversion of FCCBs

Prakash Industries Ltd has announced that the Company has received notice from FCCB holder for conversion of 8 Nos. bonds (US$ 1,00,000 each) in to 2,19,200 Nos. equity shares of Rs. 10/- each of the Company. Accordingly, the Allotment Committee of the Board of Directors of the Company in its meeting held on April 17, 2010 has allotted 2,19,200 equity shares pursuant to conversion of 8 Nos. bonds.

The stock closed the day at Rs.225, down by Rs.10.40 or 4.42%. The stock hit an intraday high of Rs.231.90 and low of Rs.223.

The total traded quantity was 211756 compared to 2 week average of 259634.

Source : Equity Bulls

Keywords