Subex, a provider of operations support systems, announced Thursday the company has allotted 3.68 million equity shares pursuant to the conversion of USD 1.50 million out of company's USD 127.72 million (5.70%) secured convertible bonds due 2017 on May 20, 2015.

Post the conversion, FCCBs aggregating to USD 75.03 million are outstanding under the said bonds, the company said.

Shares of the company declined Rs 0.3, or 2.38%, to trade at Rs 12.29. The total volume of shares traded was 191,559 at the BSE (11.39 a.m., Thursday).