Unitech promoters hike stake to 46.72%

Promoters of realty firm, Unitech, have hiked their stake in the company by 0.42 percentage points to 46.72 per cent by converting warrants worth Rs76.44-crore.

The committee of directors of the company in its meeting held on June 18, 2010, has allotted 2,00,00,000 equity shares of Rs2 each at a premium of Rs48.75 per share to Harsil Projects Pvt Ltd, a promoter group company. The promoters have paid Rs 76.44 crore for the conversion of two crore warrants.

The promoters' shareholding in the company after such allotment on conversion of warrants has increased to 46.72 per cent from 46.30 per cent.

Early this month, the company had announced that its promoters had increased their stake to 46.30 per cent from 45 per cent by converting warrants worth Rs224.78-crore.

In March also, the promoters had raised their stake to 45 per cent from 43.84 per cent by converting five crore warrants for Rs 190 crore.

Last year in June, the company had issued 22.75 crore warrants convertible into equal number of equity shares at Rs50.75 per share.