Aurobindo Pharma allots 286769 Shares on Conversion of FCCBs

Aurobindo Pharma Ltd has announced that, pursuant to the applications received for conversion from some of the Bondholders, the Committee of the Board of Directors of the Company at its meeting held on August 02, 2010 has considered the request and allotted 2,86,769 Equity Shares of Rs. 5/- each for cash at a premium of 517.036 by conversion of Bonds worth USD 3,450,000 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 57934789 Equity Shares of Rs. 5/- each to 58221558 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 2.118 Million.

The stock was trading at Rs.992.95, up by Rs.12.35 or 1.26%. The stock hit an intraday high of Rs.1006 and low of Rs.983.

The total traded quantity was 79685 compared to 2 week average of 29043.

Source : Equity Bulls

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