Advanta rises 4% on board nod to allot shares to JP Morgan

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26 Aug, 2025 12:21

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Shares of Advanta gained 3.6 percent intraday Thursday on getting board members approval for allotment of equity shares to JP Morgan.

"Board of directors today approved the conversion of 25 foreign currency convertible bonds (FCCBs) into global depository receipts (GDRs)," says the multinational seed company.

Board also approved allotment of 39,72,070 equity shares of Rs 2 each to JP Morgan Chase Bank, NA - Depository Bank to issue appropriate GDRs, it added.

As per latest shareholding pattern, promoter and promoter group have 59.51 percent stake in the company as of September 2015. Resonance Opportunities Fund, New Leaina Investments, ITC Mauritius, Silver Stallion, ICICI Prudential, Reliance MF, Ares Diversified and Vinod Nair held 20.4 percent equity stake.

At 12:44 hours IST, the scrip of Advanta was quoting at Rs 446.95, up Rs 8.40, or 1.92 percent on the BSE.Posted by Sunil Shankar Matkar