Prakash Industries Ltd allots Equity Shares on conversion of Foreign Currency Convertible Bonds

Prakash Industries Ltd has received notice from FCCB holder for conversion of 11 Nos. FCCB (US$ 1,00,000 each) in to 5,82,977 Nos. equity shares of Rs.10/- each of the Company in accordance with restructuring terms accepted by FCCB holders. Accordingly, the FCCB Conversion Committee of the Company in its meeting held on May 03, 2016 has allotted 5,82,977 equity shares to the said FCCB holder. Consequent upon the aforesaid conversion , the paid up share capital of the Company has increased from Rs.1,34,48,85,140/- to Rs.1,35,07,14,910/-.

Shares of PRAKASH INDUSTRIES LTD. was last trading in BSE at Rs.40.8 as compared to the previous close of Rs. 41.5. The total number of shares traded during the day was 203040 in over 1337 trades.

The stock hit an intraday high of Rs. 43.25 and intraday low of 40.5. The net turnover during the day was Rs. 8460533.

Source : Equity Bulls

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