JIK Industries allots shares, bonds

JIK Industries Ltd has announced that the Board of Directors of the Company at its meeting held on July 02, 2007, has decided to allot as under:

1. 20,00,000 Equity Shares of Rs 10/- each @ premium of Rs 3.80 per share to Stressed Assets Stabilization Fund.

2. 14,85,507 Equity Shares of Rs 10/- each @ premium of Rs 3.80 per share to Life Insurance Corporation of India.

3. 4,65,000 Equity Shares of Rs 10/- each @ premium of Rs 3.80 per share to 5 investors on private placement basis.

4. 32,27,623 number of fully Convertible Bonds of Face Value of Rs 69/- per Bond, on private placement basis to two investors to be compulsorily converted into 5 equity shares, in one or more trenches, at any time within the period of 18 months from the date of allotment.

Source : Equity Bulls

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