United Spirits Ltd has informed that in accordance with the Offering Circular dated March 24, 2006 of issue of USD100,000,000 2.00 per cent Convertible Bonds due 2011 (the Bonds), the Company has received conversion notices in respect of 1,220 Bonds aggregating to USD 1,220,000 from the bond holder.
The Committee of Directors of the Company at its meeting held on September 18, 2007 has allotted 69,404 equity shares of Rs 10/- each, on conversion of 1,220 Bonds at a conversion price of Rs 781/- per equity share, with the fixed rate of exchange on conversion of Rs 44.43 = USD1.00.
Consequent upon the allotment on conversion of Bonds, the total issued and paid upequity capital of the Company stands increased to Rs 981,289,310 divided into 98128931 equity shares of Rs 10 each from the present equity capital of Rs 980,595,270 divided into 98059527 equity shares of Rs 10 each.
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