United Spirits allots 568886 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$100,000,000 2.00 per cent Convertible Bonds due 2011 ("the Bonds"), the Company has received a conversion notice in respect of 10,000 Bonds aggregating to US$ 10,000,000 from the bond holder.

The Committee of Directors of the Company at its meeting held on January 28, 2008 has allotted 568,886 equity shares of Rs 10/- each, on conversion of 10,000 Bonds at a conversion price of Rs 781/- 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 996,512,640/- divided into 99,651,264 equity shares from the present equity capital of Rs 990,823,780/- divided into 99,082,378 equity shares.

Source : Equity Bulls

Keywords