Jubilant Organosys Ltd has announced that the Special Committee of the Board of Directors of the Company at its meeting held on January 07, 2008, has allotted 396,883 equity shares of Re 1/- each at a premium of Rs 272.0648 per share has been made to Citigroup Global Markets Mauritius Pvt Ltd, on conversion of a part of the Foreign Currency Convertible Bonds amounting to US $ 2,500,000.