United Spirits Allots 85332 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$100,000,000 2.00 per cent Convertible Bonds due 2011 ("the Bonds"), the Company has received conversion notices in respect of 1,500 Bonds aggregating to US$ 1,500,000 from the bond holders.

The Committee of Directors of the Company at its meeting held on October 13, 2007 has allotted 85,332 equity shares of Rs 10/- each, on conversion of 1,500 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 989,663,270/- divided into 98,966,327 equity shares of Rs 10 each from the present equity capital of Rs 988,809,950 divided into 98,880,995 equity shares of Rs 10 each.

Source : Equity Bulls

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