Small correction:
At the moment 2M$ bond are being converted to shares @ 250rs.
= 652000 shares. (1 USD = 81.5 Rs)
= 0.065 cr shares
~0.96cr shares would be when the all FCCBs worth 30M$ would get converted. Which can eventually happen but hasn’t yet.
Wondering the same. Although I see no economical benefit to the promoter for selling. Mr Abdul has been selling his stake since last year at prices < 250 rs as well. Selling the shares just to buy FCCB and then getting it converted back to equity for what?
Disc: invested