Videocon Industries converts 5,025 shares into fully paid equities

MUMBAI: Electronics appliances and consumer goods maker Videocon Industries on Friday said it has converted 5,025 partly paid-up shares into fully paid-up equities on receipt of payment from the allottees.

The rights issue committee of the board of directors took a decision to this effect at its meeting held on Friday, Videocon Industries informed the Bombay Stock Exchange in a regulatory disclosure.

Confirmed conversion of these into fully paid-up equity shares, the company said the payment of the first and the final call money by the respective shareholders has been received. These partly paid-up shares were allotted on April 22, on rights basis to the existing shareholders, it said.

Shares of the company closed at Rs 216.80, up 0.16 per cent from the previous close on the BSE.