Liberty board to meet on promoter holdings issue

 "The promoters hold 34.5 lakh convertible debentures of the company, which are maturing and are being converted to equity shares at par. The board would decide whether the company should enhance its equity capital or the promoters should offload their additional stake," Adarsh Gupta, executive director of Liberty Shoes, said. 

 After the conversion of debentures, the promoter holding in the company would go beyond 75%, he added.

 Post conversion, the company's equity shares would move up to 8.52 crore. With the company having announced a bonus issue of 1:1, the total number of shares would be 17.04 crore, Gupta said.