JSL Stainless Ltd allots 291978 shares on conversion of FCCBs

JSL Stainless Ltd have received a Notice dated May 31, 2012 through Citibank N. A., London, principal agent of the bond holders for conversion of 160 Foreign Currency Convertible Bonds (FCCBs) of US$ 5,000 each into 2,91,978 equity shares of Rs. 2/- each.

Consequent upon above conversion, the paid up capital of the Company would increase from Rs. 37,90,11,250/- to Rs. 37,95,95,206/- divided into 18,97,97,603 equity shares of Rs. 2/- each.

The conversion price shall be at Rs. 119.872 per equity share in terms of the issue of said FCCBs.

The JSL Stainless Ltd. stock was trading at Rs.75, up by Rs.1.25 or 1.69%. The stock hit an intraday high of Rs.75.50 and low of Rs.74.

The total traded quantity was 4160 compared to 2 week average of 3805.

Source : Equity Bulls

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