United Spirits Ltd allots equity shares on conversion of Bonds

United Spirits Ltd has announced that in accordance with the Offering Circular dated March 24, 2006 of issue of US$ 100,000,000 2.00 per cent Convertible Bonds due 2011 ("the Bonds"), the Company has received conversion notices in respect of 10,190 Bonds aggregating to US$ 10,190,000 from the bond holders.

The Committee of Directors of the Company at its meeting held on June 25, 2007 has allotted 579,692 equity shares of Rs 10/- each, on conversion of 10,190 Bonds at a conversion price of Rs 781/-per equity share, with the fixed rate of exchange on conversion of Rs 44.43 = US$ 1.00.

Consequent upon the allotment on conversion of Bonds, the total issued and paid up equity capital of the Company stands increased to Rs 959,398,680 divided into 95939868 equity shares of Rs 10 each from the present Equity capital of Rs 953,601,760 divided into 95360176 equity shares of Rs 10 each.

The stock was trading at Rs.1208, up by Rs.25.05 or 2.12%. The stock hit an intraday high of Rs.1230 and low of Rs.1180. The total traded quantity was 67583 compared to 2 week average of 128504.

Source : Equity Bulls

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