United Spirits allots 69404 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$100,000,000 2.00 per cent Convertible Bonds due 2011 ("the Bonds"), the Company has received conversion notices in respect of 1,220 Bonds aggregating to US$ 1,220,000 from the bond holder.

The Committee of Directors of the Company at its meeting held on September 18, 2007 has allotted 69,404 equity shares of Rs 10/- each, on conversion of 1,220 Bonds at a conversion price of Rs 781/- 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 981,289,310 divided into 98128931 equity shares of Rs 10 each from the present equity capital of Rs 980,595,270 divided into 98059527 equity shares of Rs 10 each.

The stock was trading at Rs.1850, up by Rs.28.90 or 1.59%. The stock hit an intraday high of Rs.1862 and low of Rs.1831. The total traded quantity was 284883 compared to 2 week average of 241832.

Source : Equity Bulls

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