Sun Pharma allots 2518834 Equity Shares against conversion of FCCBs

Sun Pharmaceutical Industries Ltd has announced that pursuant to the terms and conditions of the Offering Circular dated November 24, 2004, the Committee of Directors (Allotment) of the Company at its meeting held on March 20, 2008, has allotted 25,18,834 (Twenty Five Lacs Eighteen Thousand Eight Hundred Thirty Four) 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 40,813 - 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 20,45,97,557 Equity Shares of Rs 5/- each to 20,71,16,391 Equity Shares of Rs 5/- each, as of date.

Further the Company has informed that, with this, the entire 350,000 — Zero Coupon Foreign Currency Convertible Bonds due 2009 of US $ 1000 each (FCCB) aggregating to US$ 350.0 Million issued by the Company have been converted into Equity Shares of Rs 5/- each of the Company and hence, there is no ECCB outstanding as on date.

Source : Equity Bulls

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