Gujarat NRE Coke is currently trading at Rs. 50.80, up by 1.25 points or 2.52% from its previous closing of Rs. 49.55 on the BSE.
The scrip opened at Rs. 50.00 and has touched a high and low of Rs. 51.50 and Rs. 50.00 respectively. So far 1,76,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 72.00 on 05-Jan-2011 and a 52 week low of Rs. 41.00 on 25-Feb-2011.
Last one week high and low of the scrip stood at Rs. 51.50 and Rs. 48.80 respectively. The current market cap of the company is Rs. 2668.64 crore.
The promoters holding in the company stood at 47.50% while Institutions and Non-Institutions held 29.14% and 23.36% respectively.
Gujarat NRE Coke has launched an issue of $50 million direct, unsubordinated, unconditional and unsecured convertible bonds due to matured by 2016. However, issue is subject to an over allocation of $10 million worth bonds convertible into ordinary equity shares of the company quoted in Indian Rupees. First International Group and UBS AG are appointed as the Joint Book runners for the offering of the bonds.
The bonds are proposed to the listed on the Singapore Exchange Securities Trading and the equity shares of the company to be issued upon conversion of the bonds shall be listed on the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE).
Further, the issue of the bonds and issuance at the equity of the company upon conversion of the bonds was authorized by a resolution of the Board of Directors of the company at a meeting held on October 21, 2010 and by a special resolution of the shareholders passed by postal ballot the result of which was declared on December 13, 2010. Further the opening of the issue has been authorized by a resolution of the management committee of the Board of Directors of the Company passed at a meeting held on June 09, 2011.
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