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 notice in respect of 500 Bonds aggregating to USD 500,000 from the bond holder.
The Committee of Directors of the Company at its meeting held on November 22, 2007 has allotted 28,444 equity shares of Rs 10/- each, on conversion of 500 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 up equity capital of the Company stands increased to Rs 990,823,780/- divided into 99,082,378 equity shares from the present equity capital of Rs 990,539,340/- divided into 99,053,934/- equity shares of Rs 10 each.
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