Sintex allots equity shares to FCCB holders

The committee of directors of Sintex Industries has allotted 41.80 lakh equity shares of Re 1 each to foreign currency convertible bonds holders on the exercise of their conversion right. Earlier, shareholders of Sintex Industries approved issue of $140,000,000, 7.50 per cent, step down convertible bonds due 2017. With the allotment, the paid-up equity share capital of the company increased to ₹38.9 crore from ₹38.48 crore. Shares of Sintex Industries slipped one per cent at ₹106.5 on the BSE.