Auto components-maker Motherson Sumi today said it has issued 10.5 lakh shares to bondholders following the conversion of bonds worth euro 1.5 million (about Rs 8.50 crore).
The decision to issue the shares was taken at a meeting of the company's board today, Motherson Sumi Systems said in a filing to the Bombay Stock Exchange (BSE).
"The committee of directors of the company at its meeting held on June 23, 2010, has made the allotment of 10,50,000 equity shares of Re 1 each pursuant to conversion of zero coupon Foreign Currency Convertible Bonds (FCCB) of euro 1.5 million," it said.
The company, however, did not provide any specific reasons for making the allotment.
After the allotment, the paid-up capital of Motherson Sumi stands at Rs 38.61 crore. It also has a balance of FCCBs worth euro 2 million, it added.
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