Subex allots 1199601 equity shares upon conversion of FCCBs

Subex Ltd has announced that the Allotment Committee of the Board of Directors of the Company has issued 1,199,601 equity shares upon conversion of FCCBs of principal amount of US$ 2 million by the holders of Company's US$ 98.7 million 5% Coupon Convertible Unsecured Foreign Currency Convertible Bonds. Post the conversion, FCCBs aggregating to US$ 64.8 million are outstanding.

Consequently, the paid up share capital of the Company has increased from Rs. 579,844,390 to Rs. 591,840,400.

The stock was trading at Rs.59.30, up by Rs.4.40 or 8.01%. The stock hit an intraday high of Rs.60.75 and low of Rs.53.10.

The total traded quantity was 1378064 compared to 2 week average of 313908.

Source : Equity Bulls

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