Subex, a provider of operations support systems, witnessed a sharp rise in share price on Thursday after it announced that the company has allotted 15,98,746 equity shares pursuant to the conversion of USD 650,000 out of company's USD 127,721,000 5.70% secured convertible bonds due 2017 on Nov. 25, 2014.

Post the conversion, FCCBs aggregating to USD 86.5 million are outstanding under the said Bonds.

Shares of the company are trading at Rs 13.67, up Rs 0.61, or 4.67% at the Bombay Stock Exchange (BSE) on Thursday at 11:17 a.m.

The scrip has touched an intra-day high of Rs 14.00 and low of Rs 13.46. The total volume of shares traded at the BSE is 383,522.