Shringar Cinemas fixes price of FCCB at Rs 107

MUMBAI: Shringar Cinemas has allotted 1,687,850 equity shares
out of the 0.5 per cent per annum Series B Unsecured Foreign Currency Convertible Bonds (FCCBs). The 0.5 per cent worth $ 8 million is due on 2011.

The conversion price has been fixed at Rs 107 per equity share. The exchange rate is of Rs 45.15 per US dollor upon conversion of the said FCCBs Series B due on 2011 (FCCBs) aggregating to $ 4 million.