United Spirits allots over 5 lakh shares upon FCCB conversion

MUMBAI: Vijay Mallya-led United Spirits on Monday said it has allotted over 5.79 lakh equity shares upon conversion of 10,190 Foreign Currency Convertible Bonds (FCCBs) for Rs 45.27 crore.

The committee of directors alloted 5,79,692 equity shares of Rs 10 each, upon conversion of 10,190 bonds at Rs 781 per share, United Spirits said in a communique to the Bombay Stock Exchange (BSE).

The FCCBs were converted at a fixed rate of exchange of Rs 44.43 per dollar.

Earlier on March 24, the company had launched an FCCB issue of 100 million dollar due on 2011.

Of these, United Spirits has received conversion notices in respect of 10,190 bonds aggregating to $10,190,000 from the bond holders.

Consequent to the allotment, the total issued and paid-up equity capital of the company stands increased to Rs 95.93 crore from Rs 95.36 crore.

Shares of the company were trading at Rs 1,222, up 3.30 per cent on BSE in early morning trade.