Jai Balaji Industries to issue 1 crore warrants at Rs.50

The Board of Directors of Jai Balaji Industries Ltd at its meeting held on October 04, 2012, has approved issue of 1,00,00,000 (one crore) Warrants on preferential basis to the Promoter(s)/ Promoter Group Company(s) at a price of Rs. 50/- (Rupees fifty only) per warrant, convertible into Equity Shares of the Company of face value Rs.10/- each, including a premium of Rs. 40 per equity share, which is a price greater than Rs. 36.76, being the price determined in accordance with Clause 76(1) of Chapter-VII of the SEBI (Issue of Capital and Disclosure Requirement) Regulations, 2009 as amended from time to time, ranking pari-passu in all respects, including a to dividend, with the existing equity shares of the Company.

The Jai Balaji Industries Ltd stock closed the day at Rs.42, up by Rs.1.90 or 4.74%. The stock hit an intraday high of Rs.42.10 and low of Rs.40.40.

The total traded quantity was 0.40 lakhs compared to 2 week average of 0.71 lakhs.

Source : Equity Bulls

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