Surana Industries allots 18,94,622 shares on FCCB conversion

The Allotment Committee of the Board of Directors of Surana Industries Ltd at their meeting held on January 19, 2012, have allotted 18,94,622 equity shares of Rs. 10 each fully paid up to M/s. IndiaSTAR (Mauritius Limited (Beneficiary), arising on conversion of USD 5 million principal Bond value. Pursuant to the allotment, the outstanding FCCB's due for conversion/redemption is USD 20 million.

The Surana Industries Ltd stock was trading at Rs.423, down by Rs.13.75 or 3.15%. The stock hit an intraday high of Rs.441.95 and low of Rs.416.

The total traded quantity was 0.22 lakhs compared to 2 week average of 0.18 lakhs.

Source : Equity Bulls

Keywords