Sun Pharmaceutical allots 1,247,972 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 August 11, 2007, has allotted 1,247,972 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 20,221 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 19,79,37,969 Equity Shares of Rs 5/- each to 19,91,85,941 Equity Shares of Rs 5/- each, as of date.

The stock was trading at Rs.923, up by Rs.8 or 0.87%. The stock hit an intraday high of Rs.928.90 and low of Rs.916. The total traded quantity was 1809 compared to 2 week average of 45626.

Source : Equity Bulls

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