Subex rose 0.71% to Rs 11.29 at 10:16 IST on BSE after the company allotted 65.67 lakh equity shares pursuant to the conversion of $2.67 million out of the company's $127.72 million secured convertible bonds due 2017 on 8 January 2015.
The company made announcement after market hours yesterday, 8 January 2015.
Meanwhile, the BSE Sensex was up 142.23 points, or 0.52%, to 27,416.94.
On BSE, so far 1.14 lakh shares were traded in the counter, compared with an average volume of 4.53 lakh shares in the past one quarter.
The stock hit a high of Rs 11.65 and a low of Rs 11.22 so far during the day. The stock hit a 52-week high of Rs 15.80 on 14 November 2014. The stock hit a 52-week low of Rs 7.74 on 24 June 2014.
The stock had underperformed the market over the past one month till 8 January 2015, falling 7.81% compared with 3% fall in the Sensex. The scrip had however outperformed the market in past one quarter, rising 31.73% as against Sensex's 3.92% rise.
The small-cap company has an equity capital of Rs 174.76 crore. Face value per share is Rs 10.
Subex said that the company has allotted 65.67 lakh equity shares pursuant to the conversion of $2.67 million out of the company's $127.72 million 5.7% secured convertible bonds due 2017 on 8 January 2015. Post the conversion, FCCBs aggregating to $82.18 million are outstanding under the said Bonds. Subject to the listing & trading approval of the stock exchanges, the paid up share capital of the company has increased from Rs 174.75 crore to Rs 181.32 crore.
Subex's consolidated net profit jumped 516.7% to Rs 9.62 crore on 5.4% rise in total income to Rs 90.51 crore in Q2 September 2014 over Q2 September 2013.
Subex is a leading provider of Business and Operations Support Systems (B/OSS) that empowers communications service providers (CSPs) to achieve competitive advantage through Business and Capex Optimisation - thereby enabling them to improve their operational efficiency to deliver enhanced service experiences to subscribers.
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