Subex fell 1.15% to Rs 12.90 at 14:01 IST on BSE after the company announced the allotment of 86.23 lakh equity shares pursuant to the conversion foreign currency convertible bonds.
The announcement was made during market hours today, 9 December 2015.
Meanwhile, the BSE Sensex was down 123.02 points, or 0.49%, to 25,187.27
On BSE, so far 24.07 lakh shares were traded in the counter, compared with an average volume of 25.81 lakh shares in the past one quarter.
The stock hit a high of Rs 13.30 and a low of Rs 12.55 so far during the day. The stock hit a 52-week high of Rs 18.35 on 11 August 2015. The stock hit a 52-week low of Rs 9.12 on 16 November 2015.
The stock had outperformed the market over the past one month till 8 December 2015, surging 33.98% compared with 3.64% decline in the Sensex. The scrip also outperformed the market in past one quarter, advancing 18.1% as against Sensex's 0.03% fall.
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The small-cap company has an equity capital of Rs 304.98 crore. Face value per share is Rs 10.
Subex said that the company has allotted 86.23 lakh equity shares pursuant to the conversion of $2,000,000 out of its $33.29 million bonds that are outstanding under the $127,721,000 5.70% secured convertible bonds due 2017 on 9 December 2015. Post the conversion, foreign currency convertible bonds (FCCBs) aggregating to $31.29 million are outstanding, Subex said.
On a consolidated basis, Subex reported net profit of Rs 15.60 crore in Q2 September 2015 as compared to net loss of Rs 4.75 crore in Q1 June 2015. Net sales rose 8.2% to Rs 79.54 crore in Q2 September 2015 over Q1 June 2015.
Subex is a leading global provider of Business and Operations Support Systems (B/OSS) that empowers communications service providers (CSPs) to achieve competitive advantage through business optimisation - thereby enabling them to improve their operational efficiency to deliver enhanced service experiences to subscribers.
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