Saurashtra Cement allots 1.52m shares against debt

Saurashtra Cement Ltd, Inida said it would allot 1.52 million shares at 73 rupees on conversion of debt as part of its corporate debt restructuring scheme.

The shares would be alloted on conversion of 10 percent of the outstanding loan amount of lenders and debenture holders, the company said in a statement.

Shares in the company were down 4.4 per cent at 70 rupees in a weak Mumbai market.