Patel Engineering has informed that at the meeting of the Allotment Committee of the Directors of the Company held March 31, 2014, the Committee has approved conversion of 64,17,174 Optionally Convertible Preference Shares (OCPS) amounting to Rs. 64,17,174 into 64,17,174 Equity Shares of Re. 1 at a price of Rs. 57.50 per share (including premium of Rs. 56.50) in accordance with the approval given by the shareholders
The above information is a part of company’s filings submitted to BSE.