Sun Pharma allots 1.24 lakh equity shares against FCCBs

New Delhi, Aug 13 (UNI) Sun Pharma Advanced Research Company Ltd (SPARC) today said it has allotted 1,247,972 equity shares of Re 1 each to the bondholders of Sun Pharmaceutical Industries Ltd (SPIL) for the conversion of 20,221 Foreign Currency Convertible Bonds(FCCB) of 1,000 dollar each.

The holders of spil are entitled to one equity share of Re one each of for every equity share of Rs 5 each of SPIL, said a statement.

The conversion has been warranted due to the demerger between SPARC and SPIL and Citicorp Trustee Co Ltd.

Consequently, the paid up equity share capital of the SPARC has increased from 19,79,37,969 equity shares of Re 1 each to 19,91,85,941 equity shares of Re 1 each, added the statement.

UNI