MUMBAI: Adlabs Films has allotted 1.6 million equity shares to convert Zero Coupon Foreign Currency Convertible Bonds (FCCB) aggregating 1, 62, 50,000 euros (or Rs 881.7 million) in value. The equity shares are of face vale Rs five each at a price Rs 543.42 (including a premium of Rs 538.42) per share.

"Pursuant to the allotment, the total paid up share capital of the Company shall be 22,35,84,040 divided into 4,47,16,808 equity shares of Rs five each fully paid up," says a press release.

However the company has said that further pursuant to the allotment, the net worth of the company shall be Rs 5.78 billion.

The outstanding amount of zero coupon FCCB is now 3,47,65,000 euros in value (or Rs 2012476320).

In December, Adlabs Films had allotted 703,933 equity shares of value Rs five each on conversion of zero coupon FCCB worth Euro 7.05 million (about Rs 382.53 million).

Earlier it had allotted 948,565 equity shares of face value Rs five each for cash at a price of Rs 543.42 (including a premium of Rs 538.42) a share, pursuant to the conversion notices received in respect of conversion of zero coupon FCCB aggregating to Euro 9,500,000 (or Rs 515.4 million) in value.