Jupiter Bioscience allots shares under QIP Issue

Jupiter Bioscience Ltd has announced that the Board of Directors of the Company at its meeting held on May 23, 2007, has decided the following:

1. Allotment of 65,12,470 Equity Shares of Rs 10/- each with a share premium of Rs 143/- per share to the eligible Institutional Buyers in the recently concluded QIP Issue.

2. The Board has passed a resolution that up to 5% of the expanded paid up Equity capital can be allocated for employee stock option plan. This will be in conformity with the relevant guidelines laid down by SEBI and other applicable regulations. It will need to be approved by the shareholders of the Company.

The company has also called for a meeting of the Board of Directors on May 28, 2007, inter alia, to consider and allot Equity Share Warrants to M/s. Ranbaxy Laboratories Ltd.

Source : Equity Bulls

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