M&M allots 2996530 Equity Shares

Mahindra & Mahindra Ltd has announced that the Company on October 11, 2010, has allotted 29,96,530 Ordinary (Equity) Shares upon the exercise of conversion option by the bondholders of the Zero Coupon Foreign Currency Convertible Bonds (FCCBs) of the Company. The above 29,96,530 Ordinary (Equity) Shares shall rank pari passu in all respects with the existing Ordinary (Equity) Shares of the Company.

The stock closed the day at Rs.706.65, up by Rs.0.85 or 0.12%. The stock hit an intraday high of Rs.717 and low of Rs.701.15.

The total traded quantity was 1.31 lakhs compared to 2 week average of 2.07 lakhs.

Source : Equity Bulls

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