Graphite India allots 11137226 Shares on FCCB Conversion

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

The Committee of Directors on September 07, 2010, have allotted 111,37,226 equity shares of Rs. 2/- each on conversion of 14000 FCCBs aggregating US$ 140,00,000 at a conversion price of Rs. 55.31 per share. Post allotment the paid-up capital of the Company has increased from Rs. 36,84,76,736 to Rs. 39,07,51,188.

The stock was trading at Rs.94.90, down by Rs.1.40 or 1.45%. The stock hit an intraday high of Rs.98 and low of Rs.94.70.

The total traded quantity was 1.19 lakhs compared to 2 week average of 1.17 lakhs.

Source : Equity Bulls

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