Jindal Steel & Power Ltd approves allotment of warrants, shares

The Board of Directors of Jindal Steel & Power Ltd at its meeting held today has considered and approved the issue of 4,80,00,000 (Four Crore Eighty Lakhs only) convertible warrants to M/s Opelina Finance and Investment Limited, an promoter group entity on preferential basis, subject to the approval of the Members of the Company and other necessary regulatory approvals.

The Board approved issue of 14,20,000 (Fourteen Lakhs and Twenty Thousand only) equity shares to M/s Nalwa Steel & Power Limited on Preferential basis, subject to the approval of the Members of the Company and other necessary regulatory approvals.

The Board also approved the appointment of M/s MZ & Associates, Company Secretaries as Scrutinizer to conduct the Postal Ballot process in a fair and transparent manner.

Shares of JINDAL STEEL & POWER LTD. was last trading in BSE at Rs.118.9 as compared to the previous close of Rs. 118.55. The total number of shares traded during the day was 1028235 in over 4471 trades.

The stock hit an intraday high of Rs. 119.9 and intraday low of 117.25. The net turnover during the day was Rs. 122000740.

Source : Equity Bulls

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