Prakash Industries allots 356200 equity shares on conversion of FCCBs

Prakash Industries Ltd has announced that Company has received notice from FCCB holder for conversion of 13 Nos. bonds (US$ 1,00,000 each) in to 3,56,200 Nos. equity shares of Rs. 10/- each of the Company. Accordingly, the FCCB Conversion Committee of the Board of Directors of the Company in its meeting held on May 15, 2010 has allotted 3,56,200 equity shares pursuant to conversion of 13 Nos. bonds.

The stock was trading at Rs.174.30, up by Rs.5.50 or 3.26%. The stock hit an intraday high of Rs.177.30 and low of Rs.167.60.

The total traded quantity was 329901 compared to 2 week average of 193556.

Source : Equity Bulls

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