United Spirits allots 227550 shares

United Spirits Ltd has announced that in accordance with the Offering Circular dated March 24, 2006 for issue of US$100,000,000 2.00 per cent Convertible Bonds due 2011 ("the Bonds"), the Committee of Directors of the Company at its meeting held on March 31, 2008 has allotted 227,550 equity shares of Rs 10/- each, on mandatory conversion of 4,000 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.

Please note that with the conversion of aforesaid 4000 Bonds, the entire 100,000 Bonds of US$1000 each aggregating to US$100,000,000 have been converted into 5,681,326 equity shares of Rs 10/- each in the Company and there are no outstanding Bonds.

Consequent upon the allotment of equity shares mentioned above, the total issued and paid up equity capital of the Company stands increased to Rs 1,001,632,560/- divided into 100,163,256 equity shares of Rs 10/- each from the present equity capital of Rs 999,357,060 /- divided into 99,935,706 equity shares of Rs 10/- each.

Source : Equity Bulls

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