Spicejet allots 64014560 Shares upon Conversion of FCCB

Spicejet Ltd has announced that the Company has made allotment of 64,014,560 equity shares of Rs. 10 each consequent upon exercise of conversion option by Foreign Currency Convertible Bonds (FCCB) holders.

The allottees include WLR Recovery III (India) Limited - 1,475,840 shares, WLR Recovery IV/ESC (India) Limited - 14,573,920 shares, India Asset Recovery Fund Limited - 18,448,000 shares, WLR/GS (India) Limited - 7,379,000 shares and Istithmar World PJSC - 22,137,600 shares.

The stock was trading at Rs.54.35, down by Rs.3.50 or 6.05%. The stock hit an intraday high of Rs.59.65 and low of Rs.52.10.

The total traded quantity was 8338782 compared to 2 week average of 3319589.

Source : Equity Bulls

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