United Phosphorus converts FCCBs

United Phosphorus Ltd has allotted equity shares of Rs 2 each upon conversion of Foreign Currency Convertible Bonds (FCCBs - II) for an amount not exceeding US$ 150 million.

Series A of US$ 70 million (Compulsorily convertible into equity shares) was converted on February 17, 2006. On Series B of US$ 80 million (Optionally convertible into equity shares), US$ 78 million have been converted in to equity shares on various dates and till the last date of the conversion and the balance US$ 2 million have been redeemed and there is no amount outstanding now.

The stock was trading at Rs.156.50, down by Rs.1.75 or 1.11%. The stock hit an intraday high of Rs.161.20 and low of Rs.155.35.

The total traded quantity was 0.41 lakhs compared to 2 week average of 2.89 lakhs.

Source : Equity Bulls

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