Sun Pharmaceutical Allots 10,16.778 equity shares against conversion of FCCBs

Sun Pharmaceutical Industries Ltd has announced that the Committee of Directors (Allotment) of the Company at its meeting held on April 21, 2007, has allotted 10,16,778 Equity Shares of Rs 5/- each of the Company at a premium of Rs 724.30 per share upon exercise of option of conversion for 16,475 Zero Coupon Foreign Currency Convertible Bonds of US $ 1000 each (FCCB) into Equity shares of the Company by FCCB holders.

Consequently, the paid up Equity Share Capital of the Company has increased from 19,34,02,120 Equity Shares of Rs 5/- each to 19,44,18,898 Equity Shares of Rs 5/- each, as of date.

The stock was trading at Rs.1039, down by Rs.141.25 or 11.97%. The stock hit an intraday high of Rs.1140 and low of Rs.988. The total traded quantity was 185175 shares compared to 2 week average of 71545.

Source : Equity Bulls

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