United Spirits allots 76,120 equity shares on conversion of Bonds

United Spirits Ltd has announced that in accordance with the Offering Circular dated March 24, 2006 of issue of US$ 100,000,000 2.00 per cent Convertible Bonds due 2011 ("the Bonds"), the Company has received conversion notices in respect of 1,470 Bonds aggregating to US$ 1,470,000 from the bond holders.

The Committee of Directors of the Company at its meeting held on June 13, 2007 has allotted 76,120 equity shares of Rs 10/- each, on conversion of 1,470 Bonds at a conversion price of Rs 858/-per equity share, with the fixed rate of exchange on conversion of Rs 44.43 = US$ 1.00.

Consequent upon the allotment on conversion of Bonds, the total issued and paid up equity capital of the Company stands increased to Rs 945,580,500 divided into 94558050 equity shares of Rs 10 each from the present Equity capital of Rs 944,819,300 divided into 94481930 equity shares of Rs 10 each.

The stock was trading at Rs.1068, down by Rs.9.80 or 0.91%. The stock hit an intraday high of Rs.1121.90 and low of Rs.1058. The total traded quantity was 119399 compared to 2 week average of 135961.

Source : Equity Bulls

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