Prakash Industries allots 2219400 equity shares on conversion of FCCBs

Prakash Industries Ltd has announced that the Company has received notice from FCCB holder for conversion of 81 Nos. bonds (US$ 1,00,000 each) in to 22,19,400 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 29, 2010 has allotted 22,19,400 equity shares pursuant to conversion of 81 Nos. bonds.

The stock closed the day at Rs.224.05, down by Rs.2.20 or 0.97%. The stock hit an intraday high of Rs.236 and low of Rs.222.70.

The total traded quantity was 67625 compared to 2 week average of 418312.

Source : Equity Bulls

Keywords