Sintex Industries is currently trading at Rs 67.15, up by 0.15 points or 0.22 % from its previous closing of Rs 67.00 on the BSE.
The scrip opened at Rs 67.50 and has touched a high and low of Rs 68.15 and R. 66.90 respectively. So far 116144 shares were traded on the counter.
The BSE group 'B' stock of face value Re 1 has touched a 52 week high of Rs 104.60 on 06-Feb-2012 and a 52 week low of Rs 50.20 on 18-May-2012.
Last one week high and low of the scrip stood at Rs 68.15 and Rs 61.20 respectively. The current market cap of the company is Rs 1844.05 crore.
The promoters holding in the company stood at 36.49% while Institutions and Non-Institutions held 32.72% and 30.80% respectively.
Sintex Industries has launched an issue of up to $150 million step down Foreign Currency Convertible Bonds (FCCBs) due 2017 direct, unconditional, unsubordinated and subject to the conditions of the negative pledge unsecured and unrated convertible bonds due 2017. The net proceeds from the offering of the bonds will be used to repurchase or repay the outstanding principal, and accrued and unpaid interest on, the foreign currency convertible bonds issued in 2008, in accordance with applicable Indian laws and regulations.
The company has launched the bonds pursuant to the approval of the Security Issue and Allotment Committee of the Board of Directors at its meeting held on November 15, 2012. The bonds will be convertible into equity shares of the company having a face value of Re 1 each quoted in Indian Rupees.
Besides, the Singapore Exchange Securities Trading has approved in-principle the listing and quotation of the bonds and in-principle approvals have been obtained for listing of the Equity Shares, which are to be issued upon conversion of the bonds, on the Ahmedabad Stock Exchange, BSE and National Stock Exchange of India.
Further, the company has obtained the approval of its shareholders by way of a special resolution passed on September 17, 2012 for the issue of the bonds and for issue of Equity Shares upon conversion of the bonds.
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