Jindal Stainless Limited allots 30,08,225 equity shares

Pursuant to the approval of the shareholders granted at the Extra Ordinary General Meeting held on 17th September, 2020, Jindal Stainless Limited ("the Company") had allotted 3,82,60,868 (Three Crore Eighty Two Lac Sixty Thousand Eight Hundred Sixty and Eight) convertible equity warrants ("Warrants") of face value of Rs. 2/- (Rupees Two) each at a price of Rs. 42.55, on receipt of subscription money@ 33% of the issue price.

In terms of issue of Warrants, Kotak Special Situations Fund ("KSSF"), an alternate investment fund has exercised the option of conversion of 30,08,225 Warrants and the Company upon receipt of balance 67% of the subscription money on said Warrants, has today allotted 30,08,225 equity shares of face value of Rs. 2/- each to KSSF.

Consequent to above allotment, the paid-up equity share capital of the Company has increased from Rs. 1,00,25,29,530/- (Rupees One Hundred Crore Twenty Five Lac Twenty Nine Thousand Five Hundred and Thirty only) divided into 50, 12,64,765 ( Fifty Crore Twelve Lac Sixty Four Thousand Seven Hundred and Sixty Five) equity shares of face value of Rs. 2/- (Rupees Two) each to Rs. 1,00,85,45,980/- (Rupees One hundred Crore Eighty Five Lac Forty Five Thousand Nine Hundred and Eighty only) divided into 50,42,72,990 (Fifty Crore Forty Two Lac Seventy Two Thousand Nine Hundred and Ninety) equity shares of face value of Rs. 2/- (Rupees Two) each.

Shares of Jindal Stainless Limited was last trading in BSE at Rs. 158.2 as compared to the previous close of Rs. 159.95. The total number of shares traded during the day was 246017 in over 2890 trades.

The stock hit an intraday high of Rs. 162.6 and intraday low of 156.5. The net turnover during the day was Rs. 39340000.

Source : Equity Bulls

Keywords