Aurobindo Allots 4 Lakh Shares, Warrants To Promoters

Aurobindo Pharma, at its board meeting today, has allotted 4 lakh equity shares and equal number of warrants to its promoters at Rs 226 per share/warrant.

The allotment is part of a series of preferential allotments that the company proposes to effect before April 15. At an extraordinary general meeting held on January 15, 2002, it had proposed to issue 55 lakh equity shares/warrants on preferential basis.

For the proposed issue, the company has received commitment from Templeton Emerging Markets to pick up 1 million equity shares and equal number of warrants. However, the company is yet to receive subscription from Templeton.

Even the promoters had committed to subscribe 1 million equity shares and equal number of warrants, of which they subscribed 4 lakh shares and warrants today.

The company intends to allot another 15 lakh equity shares/warrants to other investors.

Meanwhile, A J Kamath, who has stepped down from the company's directorship yesterday to provide a room for the appointment of independent external directors under corporate governance code, will soon assume the responsibility as group financial advisor.