Prakash Industries Ltd approves allotment of 1165954 Equity Shares on conversion of FCCBs

Prakash Industries Ltd has received notice(s) from FCCB holder(s) for conversion of 22 Nos. FCCB (US$ 50,000 each) in to 11,65,954 Nos. equity shares of Rs.10/- each of the Company in accordance with restructuring terms accepted by FCCB holder(s). Accordingly, the FCCB Conversion Committee of the Company in its meeting held on January 25, 2017 has allotted 11,65,954 equity shares to the said FCCB holder(s). Consequent upon the aforesaid conversion, the paid up share capital of the Company has increased from Rs.1,35,60,14,690/- to Rs. 1,36,76,74,230/-.

Shares of PRAKASH INDUSTRIES LTD. was last trading in BSE at Rs.68.8 as compared to the previous close of Rs. 67.05. The total number of shares traded during the day was 199995 in over 1570 trades.

The stock hit an intraday high of Rs. 70.1 and intraday low of 67.45. The net turnover during the day was Rs. 13748123.

Source : Equity Bulls

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