The board of Uttam Sugar Mills in its meeting on 30 May 2012 has issued and allotted 75,000, 10% redeemable cumulative preference shares of Rs 100 each aggregating to Rs 75,00,000 at a premium of Rs 100 per share aggregating to Rs 75,00,000 totalling Rs 1.50 crore to the entities forming part of promoter group.