Sintex Industries decreases convertibles' conversion price to Rs. 493

By Devika Patel

Knoxville, Tenn., March 12 - Sintex Industries Ltd. informed the Bombay Stock Exchange that it adjusted the conversion price of its convertible bonds to Rs. 493 per share from Rs. 580 per share, effective March 12.

The adjustment will result in 18,497,464 shares being issued, instead of 15,722,844 shares, if the entire outstanding principal of the bonds is converted.

Based in Kalol, India, Sintex Industries is a maker of plastic products, including building supplies.

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