Subex declines after listing of fresh shares

Subex fell 2.94% to Rs 11.55 at 12:03 IST on BSE as the shares allotted by the company upon conversion of bonds were admitted for trading on the bourses today, 6 February 2015.

Meanwhile, the BSE Sensex was down 33.70 points, or 0.12%, to 28,817.27.

On BSE, so far 2.27 lakh shares were traded in the counter, compared with an average volume of 6.09 lakh shares in the past one quarter.

The stock hit a high of Rs 11.90 and a low of Rs 11.35 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 5 February 2015, rising 3.39% compared with 3.62% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 22.68% as against Sensex's 3.35% rise.

The small-cap company has an equity capital of Rs 181.32 crore. Face value per share is Rs 10.

Around 65.67 lakh equity shares were admitted to trading on stock exchanges today, 6 February 2015. Subex allotted these shares at Rs 22.79 each upon conversion of $2.67 million out of the company's $127.72, 5.70% secured foreign currency convertible bonds (FCCBs) due 2017 on 8 January 2015.

Post conversion, FCCBs aggregating to $82.18 million are outstanding.

On a consolidated basis, Subex's net profit fell 29.94% to Rs 6.74 crore on 1.65% increase in net sales to Rs 91.99 crore in Q3 December 2014 over Q2 September 2014.

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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