Sun Pharmaceutical Industries Ltd allots shares, NCDs on merger of Ranbaxy

The Allotment Committee of the Board of Directors of Sun Pharmaceutical Industries Ltd has approved the allotment of equity shares and non-convertible debentures (NCDs) at their meeting held on April 10, 2015 pursuant to merger of erstwhile Ranbaxy into the Company.

The Board approved the allotment of 334,956,764 (Thirty Three Crore Forty Nine Lakh Fifty Six Thousand Seven Hundred and Sixty Four) equity shares of Re. 1 each to the shareholders of erstwhile Ranbaxy in the ratio of 8 (eight) equity shares of Re. 1 each of the Company for every 10 (ten) equity shares of Rs. 5 each of erstwhile Ranbaxy held. After allotment, the total number of issued and paid up equity shares of the Company has aggregated to 2,406,120,674 of Re. 1 each.

The Board also approved the allotment of 5,000 Secured Rated Redeemable 9.20% Non-Convertible Debentures of the Face Value of Rs. 10,00,000/- each to the NCD holders of erstwhile Ranbaxy in the ratio of 1 (One) NCD of Rs. 10 lac each of the Company for every 1 (One) NCD of Rs.10 lac each held in erstwhile Ranbaxy. After allotment the total number of NCDs of the Company is 5,000 Secured Rated Redeemable 9.20% Non-Convertible Debentures of the Face Value of Rs. 10,00,000/- each.

Shares of SUN PHARMACEUTICAL INDUSTRIES LTD. was last trading in BSE at Rs.1037.3 as compared to the previous close of Rs. 1089.55. The total number of shares traded during the day was 437647 in over 22667 trades.

The stock hit an intraday high of Rs. 1104.85 and intraday low of 1028. The net turnover during the day was Rs. 464264711.

Source : Equity Bulls

Keywords