Unitech to allot NCDs to LIC Mutual Fund

Unitech Ltd has announced that the Board of Directors of the Company at its meeting held on October 13, 2006, inter alia, has passed the following resolution:

1. Allotted 100 Secured Redeemable Non-Convertible Debentures (MIBOR Linked) of Rs 1,00,00,000/- each bearing a coupon of MIBOR+400 bps (payable on maturity) having Distinctive Nos. from 001 to 100 to LIC Mutual Fund Asset Management Co. Ltd., Mumbai on private placement basis.

2. Appointed Unit Trust of India Investment Advisory Services Ltd. as Debenture Trustee for creation of security in their favour.

Source : Equity Bulls

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