Graphite India allots 795516 shares on FCCB conversion

Graphite India Ltd has announced that the Company had in September 2005 issued 1% Foreign Currency Convertible Bonds (FCCBs) due 2010 aggregating US$40 million.

The Committee of Directors have allotted 795,516 equity shares of Rs. 2/- each on conversion of 1000 FCCBs aggregating US$ 10,00,000 at a conversion price of Rs. 55.31 per share. Post allotment the paid-up capital of the Company has increased to Rs. 34,46,11,252/- from Rs. 34,30,20,220/-.

The stock closed the day at Rs.98.85, down by Rs.6.85 or 6.48%. The stock hit an intraday high of Rs.104.50 and low of Rs.98.05.

The total traded quantity was 287451 compared to 2 week average of 273355.

Source : Equity Bulls

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