Subex fell 1.27% to Rs 10.10 at 12:17 IST on BSE after the company allotted 43.11 lakh equity shares pursuant to the conversion foreign currency convertible bonds.
The announcement was made after market hours yesterday, 16 November 2015.
Meanwhile, the BSE Sensex was up 21.02 points, or 0.08%, to 25,781.12
On BSE, so far 13.91 lakh shares were traded in the counter, compared with an average volume of 12.35 lakh shares in the past one quarter.
The stock hit a high of Rs 10.49 and a low of Rs 9.95 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 underperformed the market over the past one month till 16 November 2015, falling 7.25% compared with Sensex's 5.34% fall. The scrip had also underperformed the market in past one quarter, sliding 29.74% as against Sensex's 8.22% drop.
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The small-cap company has an equity capital of Rs 264.02 crore. Face value per share is Rs 10.
Subex said that the company has allotted 43.11 lakh equity shares pursuant to the conversion of $1,000,000 out of its $48.43 million bonds that are outstanding under the $127,721,000 5.70% secured convertible bonds due 2017 on 16 November 2015. Post the conversion, foreign currency convertible bonds (FCCBs) aggregating to $47.43 million are outstanding under the said bonds, 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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