Jaihind Projects to issue 10,00,000 shares at Rs.40 per share

Jaihind Projects Ltd has announced that the Board of Directors of the Company at its meeting held on April 13, 2007, has taken following decisions, subject to approval for members in the Extra Ordinary General Meeting which is scheduled on May 17, 2007:

1. Issuance of 10,00,000 Equity Shares of Rs 10/- each at a premium of Rs 30 per share or such premium as per the SEBI (Disclosure and Investor Protection) Guidelines, 2000 on relevant date which is fixed on April 18, 2007 to the persons acting in concern with the promoter's / Director's of the Company on preferential basis.

A. persons acting in concert with the Promoters of the Group:

i. Prakash L Hinduja (Promoter): 2,00,000 No of Equity Shares proposed to be allotted

ii. Prakash L Hinduja Jointly with Mrs. Nita P Hinduja (Promoter Group): 2,00,000 No of equity shares proposed to be allotted

iii. Rajkumari L Hinduja (Promoter Group): 2,00,000 No of equity shares proposed to be allotted

iv. Dcom Systems Ltd (Promoter Group): 2,50,000 No of equity shares proposed to be allotted

v. Gaurav Prakash Hinduja (Promoter Group): 1,30,000 No of equity shares proposed to be allotted

vi. Lallan Pandey (Promoter Group): 10,000 No of equity shares proposed to be allotted

B. Other Acquirers

i. Mukesh Keswani: 10,000 (Non Promoter) No of equity shares proposed to be allotted

2. Approval of Notice of the Extra ordinary General Meeting for seeking approval u/s 81(1A) the Companies Act, 1956, the SEBI (Disclosure and Investor Protection) Guidelines, 2000 be held on May 17, 2007 by way of Special Resolution for the above said purpose.

The stock was trading at Rs.46.10, up by Rs.2.15 or 4.89%. The stock hit an intraday high of Rs.46.10 and low of Rs.44.75. The total traded quantity was 7000 compared to 2 week average of 3326.

Source : Equity Bulls

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