Pidilite Industries allots 116462 equity shares pursuant to conversion of FCCBs

Pidilite Industries Ltd had issued and allotted 400 Zero Coupon Foreign Currency Convertible Bonds (Bonds) of US$ 100,000 each aggregating to US$ 40 million, pursuant to the Offering Circular dated December 03, 2007.

The Foreign Currency convertible Bonds (Share Allotment) Committee at its meeting held on June 04, 2011 has, in accordance with the terms of issue of the said Bonds, allotted 1,16,462 equity shares to the investor who has exercised its right to convert, into equity shares, the three Bonds of US $ 100,000 each.

There are 369 Bonds aggregating US $ 36.9 million outstanding as on date.

The stock was trading at Rs.170.50, up by Rs.6.85 or 4.19%. The stock hit an intraday high of Rs.174.90 and low of Rs.162.20.

The total traded quantity was 2.02 lakhs compared to 2 week average of 0.65 lakhs.

Source : Equity Bulls

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