Era Infra Engineering allots 2521248 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. & Deutsche Bank AG Londan through Citi Bank for converting 90 Foreign Currency Convertible Bond (FCCB) of US$ 1,00,000 each.

Accordingly the Share Allotment Committee at its meeting held on May 03, 2010, allotted 25,21,248 Equity Shares of Rs. 2/- each for cash at a premium of Rs. 156.60 by conversion of Bonds worth US$ 90,00,000.

With the allotment of the above shares the equity base of the Company stand increased from present level of 17,91,94,338 to 18,17,15,586 (Both inclusive) equity shares of Rs. 2/- each.

The stock was trading at Rs.229.30, down by Rs.0.05 or 0.02%. The stock hit an intraday high of Rs.231.65 and low of Rs.229.

The total traded quantity was 61770 compared to 2 week average of 102906.

Source : Equity Bulls

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