JK Tyre & Industries Ltd allots 43,03,350 warrants

The Committee of Directors of JK Tyre & Industries Ltd at its Meeting held on December 16, 2013, have allotted 43,03,350 Warrants to the Promoters/Promoter Group on preferential basis at a price of Rs. 115/- per Warrant, each Warrant convertible into one Equity Share of the face value of Rs.10/-, on the terms of Issue approved by the members by means of a special resolution passed at their Extra-ordinary General Meeting held on December 03, 2013 and considering conversion of all the Warrants into Equity Shares as aforesaid, the shareholding of the Promoters & Promoter Group of the Company will increase from 1,94,39,481 Equity Shares (47.34%) to 2,37,42,831 Equity Shares (52.34%).

Shares of JK Tyre & Industries Ltd was last trading BSE at Rs.149.65, down by Rs.3.50 or 2.29%. The stock hit an intraday high of Rs.156.45 and intraday low of Rs.149.

The total traded quantity was 1.57 lakh shares as compared to 2 week average of 2.59 lakh shares.

Source : Equity Bulls

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