Aurobindo Pharma allots 332485 Shares on Conversion of FCCBs

Aurobindo Pharma Ltd has announced that, 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 April 20, 2010 has considered the request and allotted 3,32,485 Equity Shares of Rs. 5/- each for cash at a premium of Rs. 517.036 by conversion of Bonds worth USD 4,000,000 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 55728837 Equity Shares of Rs.5/- each to 56061322 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 27.78 Million.

The stock closed the day at Rs.922.85, down by Rs.5.30 or 0.57%. The stock hit an intraday high of Rs.931.95 and low of Rs.921.

The total traded quantity was 22958 compared to 2 week average of 13008.

Source : Equity Bulls

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