Deccan Chronicle allots 1249435 shares on conversion of FCCBs

Deccan Chronicle Holdings Ltd has announced that the Share / Debenture Allotment Committee of the Board of Directors at its meeting held on May 14, 2010 has allotted 12,49,435 Equity Shares of Rs. 2/- each as per the terms of issue of FCCB.

The allottee is Deutsche Bank A.G. The number of bonds held were 3,000 and the No. of Equity Shares allotted was 12,49,435.

After allotment of equity shares as above, the Company's paid up capital shall stand increased to Rs. 48,69,44,438/- comprising 24,34,72,219 Equity shares of Rs. 2/- each.

Further the Company has informed that, with the conversion of FCCBs as above, the entire 54,022 FCCBs issued by the Company stands converted and there are no outstanding FCCBs.

The stock closed the day at Rs.141.50, down by Rs.5.45 or 3.71%. The stock hit an intraday high of Rs.148.95 and low of Rs.141.

The total traded quantity was 46059 compared to 2 week average of 30420.

Source : Equity Bulls

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