Mahindra & Mahindra allots 1,23,516 equity shares on conversion of FCCBs

Mahindra & Mahindra Ltd has announced that the Company on April 18, 2007 has allotted 1,23,516 Ordinary (Equity) Shares upon the exercise of conversion option by the bondholder of the Zero Coupon Foreign Currency Convertible Bonds (FCCBs) of the Company. The above 1,23,516 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.754, up by Rs.4.50 or 0.60%. The stock hit an intraday high of Rs.758.50 and low of Rs.750. The total traded quantity was 26637 compared to 2 week average of 168584.

Source : Equity Bulls

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