Grabal Alok revises conversion price of $20 million in convertibles

By Devika Patel

Knoxville, Tenn., Aug. 4 - Grabal Alok Impex Ltd. informed the Bombay Stock Exchange that it approved plans to adjust the conversion price of its $20 million in foreign currency convertible bonds at a board of directors meeting on July 21. The new conversion price will be Rs. 51 per share.

As a result of this, the number of shares to be issued per $1,000 of convertibles will be increased to 864.9 shares from 324.3 shares.

Grabal Alok is a Mumbai, India-based manufacturer of embroidered fabrics.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.