Subex jumps on allotting shares on conversion of some FCCBs

Subex rose 5.21% to Rs 11.10 at 12:25 IST on BSE after the company alloted shares pursuant to the conversion of $1 million out of company's $12.77 million secured convertible bonds due 2017 on 30 December 2014.

The company made announcement after trading hours yesterday, 30 December 2014.

Meanwhile, the S&P BSE Sensex was up 72.21 points or 0.26% at 27,475.75.

On BSE, so far 10.36 lakh shares were traded in the counter as against average daily volume of 4.3 lakh shares in the past one quarter.

The stock hit a high of Rs 11.20 and a low of Rs 10.30 so far during the day. The stock hit a 52-week high of Rs 14.80 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 30 December 2014, falling 17.64% compared with Sensex's 4.5% fall. The scrip had however outperformed the market in past one quarter, gaining 14.8% as against Sensex's 2.9% rise.

The small-cap firm has equity capital of Rs 172.30 crore. Face value per share is Rs 10.

Subex said that the company has allotted 24.59 lakh shares pursuant to the conversion of $1 million out of company's $12.77 million 5.7% secured convertible bonds due 2017 on 30 December 2014. Post the conversion, foreign currency convertible bonds (FCCBs) aggregating to $84.85 million are outstanding under the said Bonds.

Subex's consolidated net profit rose 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 global 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.

Powered by Capital Market - Live News