United Spirits allots 215038 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$100,000,000 2.00 per cent Convertible Bonds due 2011 ("the Bonds"), the Company has received conversion notice in respect of 3,780 Bonds aggregating to US$ 3,780,000 from the bond holder.

The Committee of Directors of the Company at its meeting held on September 24, 2007 has allotted 215,038 equity shares of Rs 10/- each, on conversion of 3,780 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 983,439,690/- divided into 98,343,969 equity shares of Rs 10 each from the present equity capital of Rs 981,289,310/- divided into 98,128,931 equity shares of Rs 10 each.

The stock closed the day at Rs.1738.40, up by Rs.14.05 or 0.81%. The stock hit an intraday high of Rs.1786 and low of Rs.1675.

The total traded quantity was 96359 compared to 2 week average of 255688.

Source : Equity Bulls

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