Sujana Universal allots shares at Rs.21.50 through GDR issue

Sujana Universal Industries Ltd has announced that the Board of Directors of the Company at its meeting held on February 15, 2007, for converting 33,00,000 compulsorily convertible warrants of Rs 10/- each issued at a premium of Rs 12/- per warrant into 33,00,000 equity shares of Rs 10/- each at a premium of Rs 12/- per share on exercise of option for conversion of such warrants by the warrants holders i.e. "Sujana Finance and Trading Pvt Ltd" and "Foster Infin and Trading Pvt Ltd", Hyderabad.

The company has announced that the GDR issue for 25,500,000 equity share aggregating US $ 11.9085 Million was opened on February 12, 2007 and closed on February 15, 2007. The Board of Directors of the Company made allotment of 25,500,000 equity shares of Rs 10/- each at a premium of Rs 11.50 per share in its meeting held on February 15, 2007 to Bank of New York, USA (Depositary to Issue).

Source : Equity Bulls

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