Sun Pharmaceutical allots 1,018,323 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 June 28, 2007, has allotted 1,018,323 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 16,500 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 19,60,77,216 Equity Shares of Rs 5/- each to 19,70,95,539 Equity Shares of Rs 5/- each, as of date.

The stock was trading at Rs.1023.50, up by Rs.7.95 or 0.78%. The stock hit an intraday high of Rs.1037 and low of Rs.1016. The total traded quantity was 7290 compared to 2 week average of 141544.

Source : Equity Bulls

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