Aurobindo Pharma announced today that its board of directors has approved the allotment of 3.32 lakh shares of Rs 5 each for cash at a premium of Rs 517 by conversion of bonds worth $4 million.
This conversion pertains to an issue of bonds worth $60 million in August 2005 by the company. Bond holders, as per the issue document, were allowed to convert their bonds at any time on or after September 20, 2005 to August 1, 2010.
Following this allotment, the outstanding FCCBs now stands at $27.78 million, the company said.
