LML allots 27 lakh shares to Merrill Lynch

LML has allotted about 27 lakh equity shares to Merrill Lynch Capital Markets Espana upon conversion of FCCBs.

Two-wheeler manufacturer LML Ltd said on Thursday that it has allotted about 27 lakh equity shares to Merrill Lynch Capital Markets Espana upon conversion of Foreign Currency Convertible Bonds (FCCBs).

HT Image

At the meeting held today the Financial Restructuring Committee of Directors allotted shares of Rs 10 each at a premium of Rs 21.10 per share upon FCCB conversion, the company informed the Bombay Stock Exchange.

The shares were allotted upon conversion of 2000 FCCBs Series B of 1,000 dollars each aggregating to $2 million, LML added.