Videocon Industries Converts FCCBs into equity shares

Videocon Industries Ltd has announced that the Board of Directors of the Company has allotted 49,204 equity shares pursuant to conversion, of 500 5% Foreign Currency Convertible Bonds (FCCBs) of US$ 1,000 each, due on March 07, 2011, at a conversion price of Rs 448.59 per equity share.

Further, the Board has also allotted 9,044 equity shares pursuant to conversion of 99 4.5% Foreign Currency Convertible Bonds of US$ 1,000 each, due on July 25, 2011, at a conversion price of Rs 507.00 per equity share.

The stock closed on Friday at Rs.424, up by Rs.0.10 or 0.02%. The total traded quantity was 14587 compared to 2 week average of 14757. The stock hit an intraday high of Rs.428.85 and low of Rs.423.

Source : Equity Bulls

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