Graphite India allots 9546194 shares on FCCB conversion

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

The Committee of Directors have today allotted 9546194 equity shares of Rs. 2/- each on conversion of 12000 FCCBs aggregating US$ 120,00,000 at a conversion price of Rs. 55.31 per share. Post allotment the paid-up capital of the Company has increased to Rs. 36,68,85,704/- to Rs. 34,77,93,316/-.

The stock was trading at Rs.99.35, up by Rs.0.75 or 0.76%. The stock hit an intraday high of Rs.101.50 and low of Rs.99.30.

The total traded quantity was 17266 compared to 2 week average of 47009.

Source : Equity Bulls

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