Mahindra & Mahindra allots 5973782 Equity Shares

Mahindra & Mahindra Ltd has announced that the Company on October 23, 2010, has allotted 59,73,782 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 59,73,782 Ordinary (Equity) Shares shall rank pari passu in all respects with the existing Ordinary (Equity) Shares of the Company.

The stock was trading at Rs.710, up by Rs.9 or 1.28%. The stock hit an intraday high of Rs.710.95 and low of Rs.703.

The total traded quantity was 0.54 lakhs compared to 2 week average of 2.05 lakhs.

Source : Equity Bulls

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