NHC Foods Approves Conversion of USD 1.9M FCCBs to Equity

NHC Foods Ltd announced that its Board of Directors has approved the allotment of 18,18,79,020 equity shares of face value INR 1 each at a conversion price of INR 1 per share to M/s. Emerging Market Opportunities Ltd. This conversion stems from a notice received for the partial conversion of 19 FCCBs with a principal value of USD 19,00,000 (approximately INR 18.19 crore). Following this conversion, the company's paid-up equity share capital has increased to INR 94.38 crore, comprising 94,38,06,060 equity shares. A total of 240 FCCBs with a principal amount of USD 1,00,000 each remain outstanding on the Afrinex Exchange.