Subex allots over 1.86 crore shares upon bond conversion

Subex has allotted 1,86,27,341 equity shares following conversion of $4,320,000 out of the company’s $39.61-million bonds that are outstanding under the $127,721,000 (5.70 per cent) secured convertible bonds due 2017. Post-conversion, FCCBs aggregating to $35.29 million are outstanding. The stock of Subex closed at ₹15.75, up 2.61 per cent, on the NSE.