JSL Stainless converts 200 FCCBs into 364972 shares

JSL Stainless Ltd have received a Notice dated March 16, 2012 through Citibank N.A., London, principal agent of the bond holders for conversion of 200 Foreign Currency Convertible Bonds (FCCBs) of US$ 5,000 each into 3,64,972 equity shares of Rs. 2 each.

Consequent upon above conversion, the paid up capital of the Company would increase from Rs. 37,82,81,306/- to Rs. 37,90,11,250/- divided into 18,95,05,625 equity shares of Rs. 2/- each.

The conversion price shall be at Rs. 119.872 per equity share in terms of the issue of said FCCBs.

The JSL Stainless Ltd stock was trading at Rs.82.20, up by Rs.0.35 or 0.43%. The stock hit an intraday high of Rs.85.50 and low of Rs.81.

The total traded quantity was 0.33 lakhs compared to 2 week average of 0.27 lakhs.

Source : Equity Bulls

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