Subex converts $500,000 bonds into equity

Subex Ltd today said it has converted a part of its USD 4.10 million bonds into equity, following which the company's share capital has risen to Rs 506 crore from Rs 504 crore.
"The company has allotted 21,55,942 equity shares pursuant to the conversion of USD 500,000 out of the company's USD 4.10 million bonds that are outstanding under the USD 127,721,000 5.70 per cent secured convertible bonds due 2017 on July 04, 2016," Subex said in a filing to the BSE.
Post the conversion, FCCBs aggregating to USD3.60 million are outstanding under the said bonds, it added.
"Subject to the listing and trading approval of the NSE and BSE, the paid up share capital of the company has increased from Rs 504 crore to Rs. 506.9 crore," it added.