M&M allots 1416365 Equity Shares

Mahindra & Mahindra Ltd has announced that the Company on October 13, 2010, has allotted 14,16,365 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 14,16,365 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.735.70, up by Rs.19.80 or 2.77%. The stock hit an intraday high of Rs.738 and low of Rs.714.45.

The total traded quantity was 3.49 lakhs compared to 2 week average of 1.89 lakhs.

Source : Equity Bulls

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