The company made the announcement on Saturday, 24 November 2012.

Meanwhile, the BSE Sensex was up 34.17 points or 0.18% at 18,540.74.

On BSE, 33,000 shares were traded in the counter as against average daily volume of 4.64 lakh shares in the past one quarter.

The stock hit a high of Rs 8.05 and a low of Rs 7.75 so far during the day. The stock had hit a 52-week high of Rs 14.40 on 17 February 2012. The stock had hit a 52-week low of Rs 6.15 on 28 August 2012.

The stock had underperformed the market over the past one month till 23 November 2012, declining 7.65% compared with the Sensex's 1.09% fall. The scrip had, however, outperformed the market in past one quarter, surging 5.89% as against Sensex's 3.68% gain.

The small-cap company has equity capital of Rs 1908.55 crore. Face value per share is Rs 10.

GTL Infrastructure said the foreign currency convertible bonds (FCCB) Conversion Allotment Committee of the company at a meeting held on Saturday, 24 November 2012 had allotted 24.22 crore equity shares at Rs 10 per share consequent to conversion of 44,657 FCCBs of $1000 each, in terms of the Offering Circular dated 17 October 2012 for issue of $111,740,000 Zero Coupon Compulsorily Convertible Bond (ZCCBs) due 2017 (Series A Bonds).

The Committee also allotted 6.56 crore equity shares at Rs 10 per share consequent to conversion of 12,092 FCCBs of $1000 each, in terms of the Offering Circular dated 17 October 2012 for issue of $207,546,000 Interest Bearing Convertible Bond due 2017 (Series B Bonds).

GTL Infrastructure reported a net loss of Rs 78.17 crore in Q2 September 2012, lower than net loss of Rs 208.48 crore in Q2 September 2011. Net sales rose 5% to Rs 140.99 crore in Q2 September 2012 over Q2 September 2011.

GTL Infrastructure is in the business of Shared Passive Telecom Infrastructure in India. GTL Infrastructure has a portfolio of towers serving all the major cellular operators.