JINDAL STAINLESS LTD. - Allotment of Equity Shares and Cumulative Compulsory Convertible Preference Shares (CCCPS) on preferential basis
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| 31 Mar 2014 | |
| Jindal Stainless Ltd has informed BSE that on March 31, 2014, in pursuance of the resolutions passed by the Shareholders in the Extraordinary General Meeting held on March 26, 2014, the Company has allotted the following securities to JSL Overseas Limited, a member of the promoter group, on preferential basis:<br/><br/>- 1,07,50,000 Equity Shares of Rs. 2 each at a price of Rs. 37.65 per Equity Share (including a premium of Rs. 35.65); and<br/><br/>- 1,58,10,440 Cumulative Compulsory Convertible Preference Shares (CCCPS) of Rs. 2 each at a price per CCCPS equal to Rs. 37.65 (including a premium of Rs. 35.65).<br/><br/>The CCCPS shall be converted into Equity Shares within a period of 18 months from the date of allotment of the CCCPS.<br/><br/>Consequent upon the above said allotment of Equity Shares and CCCPS, the total paid up Share Capital of the Company has increased from Rs. 40,92,50,010/- (divided into 20,46,25,005 Equity Shares of Rs. 2 each) to Rs. 46,23,70,890/- (consisting of 21,53,75,005 Equity Shares of Rs. 2 each and 15,810,440 Cumulative Compulsory Convertible Preference Shares (CCCPS) of Rs. 2 each). | |
| View all announcements for JINDAL STAINLESS LTD. | Source: BSE India |
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