Vinati Organics Ltd to consider allotment of 2218525 shares on conversion of FCCBs

A meeting of the Board of Directors of Vinati Organics Ltd will be held on September 11, 2014, to approve the allotment of 2218525 equity shares of face value of Rs. 2/- each at the conversion price of Rs. 100/- on the request from IFC (International Finance Corporation) on conversion of Foreign Currency Convertible Bonds (FCCBs) for an aggregate amount USD 5,000,000 being 100% of the initial amount of the FCCBs (as per subscription agreement dated March 04, 2011).

Shares of VINATI ORGANICS LTD. was last trading in BSE at Rs.421 as compared to the previous close of Rs. 423.25. The total number of shares traded during the day was 5894 in over 589 trades.

The stock hit an intraday high of Rs. 426 and intraday low of 340. The net turnover during the day was Rs. 2461900.

Source : Equity Bulls

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