Motherson Sumi Systems Converts FCCBs into 1.4 million Equity Shares

Motherson Sumi Systems Ltd has announced that the Committee of Directors of the Company at its meeting held on June 30, 2010 has made the allotment of 14,00,000 Equity Shares of Rs. 1/- each pursuant to conversion of Zero coupon Foreign Currency Convertible Bonds of Euro 2.00 Millions.

Post allotment of above shares, the paid up capital of the Company stands at Rs. 38,75,43,800/- and now all the FCCBs are converted into equity shares.

The stock closed the day at Rs.146.40, down by Rs.6.70 or 4.38%. The stock hit an intraday high of Rs.153.50 and low of Rs.144.15.

The total traded quantity was 232191 compared to 2 week average of 71729.

Source : Equity Bulls

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