Sintex Industries allots 12,91,308 shares on conversion of FCCBs

Sintex Industries Ltd has announced that pursuant to the approval of the (i) shareholders of the Company at the Extra Ordinary General Meeting of the Company held on October 10, 2006; (ii) the Committee of Directors (CoD) at its meeting held on July 10, 2007, has allotted 12,91,308 equity shares of Rs 2/- each of the Company to Foreign Currency Convertible Bonds ("FCCB") holders on the exercise their conversion right.

Pursuant to the allotment of 12,91,308 equity shares of Rs 2/- each of the Company as aforesaid, the paid up equity share capital of the Company as on July 10, 2007 stands increased to 11,32,30,071 equity shares of Rs 2/- each amounting to Rs 22,64,60,142 from 11,19,38,763 equity shares of Rs 2 each amounting to Rs 22,38,77,526/-.

The stock closed the day at Rs.266.10, up by Rs.3.50 or 1.33%. The total traded quantity was 195555 compared to 2 week average of 339119. The stock hit an intraday high of Rs.269.70 and low of Rs.260.05.

Source : Equity Bulls

Keywords