Aurobindo Pharma allots 166243 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 June 08, 2010 has considered the request and allotted 1,66,243 Equity Shares of Rs. 5/- each for cash at a premium of Rs. 517.036 by conversion of Bonds worth USD 2,000,000 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 56286914 Equity Shares of Rs. 5/- each to 56453157 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 23.06 Million.

The stock was trading at Rs.819.70, up by Rs.15.50 or 1.93%. The stock hit an intraday high of Rs.824 and low of Rs.804.20.

The total traded quantity was 6461 compared to 2 week average of 32469.

Source : Equity Bulls

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