Aurobindo Pharma allots 403138 shares on Conversion of FCCBs

Aurobindo Pharma Ltd has announced that in terms of the issue of USD 60 Million Convertible Bonds due 2010, the Bonds are convertible at any time on or after September 20, 2005 up to August 01, 2010 by the holders of the Bonds into Equity Shares of Rs. 5/- each of the Company at a conversion price of Rs. 522.036 per share with a fixed rate of exchange on conversion at Rs. 43.3925 per US $ 1.

Accordingly, pursuant to the application received for conversion from some of the Bondholders, the Committee of the Board of Directors of the Company at its meeting held on March 12, 2010 has considered the request and allotted 4,03,138 Equity Shares of Rs. 5/- each for cash at a premium of Rs. 517.036 by conversion of Bonds worth USD 48,50,000 in terms of the offer document to the FCCB holders.

Consequent to the aforesaid allotment, the paid up capital of the Company has gone up from 55325699 Equity Shares of Rs. 5/- each to 55728837 Equity Shares of Rs. 5/- each and the outstanding FCCBs for the issue of USD 60 Million Convertible Bonds due 2010 is now at USD 31.78 Million.

The stock was trading at Rs.958.95, down by Rs.1.20 or 0.12%. The stock hit an intraday high of Rs.990 and low of Rs.899.

The total traded quantity was 7133 compared to 2 week average of 32247.

Source : Equity Bulls

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