Subex has informed the exchanges that on Thursday it allotted 1.164 crore equity shares towards conversion of foreign currency convertible bonds (FCCBs) worth $2,700,000. These FCCBs are part of the company’s $64.63 million worth bonds that are outstanding under the $127,721,000 5.70 per cent secured convertible bonds due on 2017. Post-conversion, FCCBs aggregating to $61.93 are outstanding under the bonds. Shares of Subex jumped 6.93 per cent at ₹12.35 on the NSE.
Greenlam Industries has kicked off commercial production of a new product line named ‘Engineered Door sets & Door leaf’ at the company’s manufacturing unit at Behror, Rajasthan. The unit has an installed capacity of 1.2 lakh engineered door sets and door leaves per annum in various sizes, designs and specifications. The new products will be marketed under the brand name ‘Mikasa’. Shares of Greenlam Industries jumped 2 per cent at ₹370.
The board of directors of Onelife Capital Advisors on Thursday approved acquisition of Purple India Holdings, which has signed a share purchase agreement for buying majority stake in Destimoney Security Private Ltd and Destimoney Commodities Private Ltd, subject to regulatory approvals. These companies, together with their subsidiaries, are in the business of stock broking, commodity broking, wealth management, third-party financial product sales and a non-banking financial company. The total investment for the transaction will be ₹26 crore. To fund the acquisition and operations thereafter, the board has approved change of the IPO objects, subject to necessary shareholder and other approvals. The board has also considered formation of a suitable entity or entities for initiating activities of underwriting of various forms of assets, products and services. The stock of Onelife Capital closed at ₹33.95, down 1.6 per cent on the NSE.