Lupin allots 244,744 shares to Goldman Sachs on conversion of FCCBs

Lupin Ltd has announced that the Allotment Committee of Board at its meeting held on May 14, 2007, has considered and approved allotment of 244,744 equity shares of Rs 10/- each, for cash at a premium in terms of the Offering document, to 'Goldman Sachs Investments (Mauritius) I Ltd' consequent upon conversion of FCCBs amounting to US$ 3,000,000, out of US$ 100,000,000 FCCBs issued by the Company in January, 2006.

The stock closed the day at Rs.709.30, down by Rs.6.15 or 0.86%. The stock hit an intraday high of Rs.727.90 and low of Rs.705.10. The total traded quantity was 108027 compared to 2 week average of 114181.

Source : Equity Bulls

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