The allotment committee of the board of directors of Castex Technologies on Monday allotted 1.999 crore equity shares at ₹103.005 a share upon conversion of foreign currency convertible bonds (FCCBs) worth $41 million. This conversion is out of the $130 million FCCBs issued earlier. The committee further allotted 44.45 lakh equity shares at ₹103.005 a share upon conversion of FCCBs worth $8.2 million out of a $70-million FCCB issue. Shares of Castex Technologies closed with minor gains at ₹176 on the BSE.

The board of directors of VHCL Industries will meet on June 23 to discussa proposal from Max Apex. The company has received interest from Max Apex, Hong Kong, in taking an equity position in the company to the extent of ₹50 crore. After due diligence and negotiations, Apex has expressed their interest in investing in the plastics division only. The board has been presented with a proposal to demerge the plastics division into a separate listed entity to facilitate the investment. The board will consider the proposal, and if found fit, approve it in order to unlock stakeholder value in the company. Shares of VHCL Industries jumped 7.4 per cent at ₹1.45 on the BSE.

The board of directors of Vascon Engineers has approved a ₹100-crore rights issue for cash at a price of ₹15 per rights equity share to eligible shareholders of the company. The entitlement ratio has been fixed at 14 rights equity shares for every 19 equity shares held on the record date. After hitting a high of ₹18.45, the stock of Vascon Engineers closed at ₹17.5, up 5.1 per cent over the previous day’s close on the BSE.

comment COMMENT NOW