Subex Ltd allots 2999003 equity shares upon conversion of FCCBs

Subex Ltd has announced that the Allotment Committee of the Board of Directors of the Company has issued 2,999,003 equity shares upon conversion of FCCBs of principal amount of US$ 5 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$ 54.8 million are outstanding.

Consequently the paid up share capital of the Company has increased from Rs. 621,830,430 to Rs. 651,820,460.

The stock closed the day at Rs.53.95, down by Rs.1.60 or 2.88%. The stock hit an intraday high of Rs.56.80 and low of Rs.53.65.

The total traded quantity was 3.95 lakhs compared to 2 week average of 8.02 lakhs.

Source : Equity Bulls

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