Financial Daily from THE HINDU group of publications
Friday, Apr 01, 2005
Financial Daily from THE HINDU group of publications Friday, Apr 01, 2005 |
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Markets
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Preferential Allotments Merven board okays pref shares conversion Our Bureau
Hyderabad , March 31 MERVEN Drug Products Ltd (MDPL) has informed the stock exchanges that its board of directors at its meeting held on Thursday has approved allotment of equity shares to the holders of cumulative convertible preference shares (CCPS). The board has allotted fully paid-up 16-lakh equity shares of Rs 10 each to Swiss Technology Venture Capital Funds Pvt Ltd on exercise of their option to convert 70.4-lakh CCPS at a conversion price of Rs 44 per share. The board has also decided to allot fully paid-up 16.9-lakh equity shares of the face value of Rs 10 each at a premium of Rs 80 per share against 1.52-crore optionally unsecured fully convertible debentures of Rs 10 each to IL&FS Trust Company Ltd.
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