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Our Bureau

Hyderabad , May 29

IVRCL Infrastructures & Projects Ltd has allotted 18,80,345 shares at a price of Rs 234.03 per share of Rs 2 each in two tranches to the holders of foreign currency convertible bonds (FCCBs), which were issued in December last year. The company has informed the stock exchanges that it has received conversion notices from the holders of FCCBs (zero coupon convertible bonds due 2010) of the value of $ 9.6 million out of bonds of the value of $ 65 million. Following the conversion, FCCBs of the value of $ 55.4 million are still outstanding.

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