Alok Industries converts FCCBs worth $2 mn

Alok Industries Ltd has received a notice for conversion of 40 foreign currency convertible bonds totaling $2 million into equity shares.The company has issued 13,64,037 equity shares of Rs 10 each at a premium of Rs 61.5875 per share against the FCCBs. The number of FCCBs and amount outstanding following the conversion stands at 894 and $44.70 million, respectively.

Paid up equity capital of Alok Industries has increased to 17,17,36,011 equity shares of Rs 10 each from 17,03,71,974 equity shares of Rs 10 each following the conversion.