JSW Steel EGM approves issue of warrants

JSW Steel Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on September 08, 2006, have accorded authority to the Board to create, offer, issue and allot 70,00,000 Series A Warrants and 80,00,000 Series B Warrants (Warrants) convertible into Equity Shares at the option of the Warrant holders (each Warrant shall be convertible into 1 Equity share of the face value of Rs 10/- each of the Company) to Mr Sajjan Jindal and Samarth Holdings Pvt Ltd through Private Placement(s) at the price to be determined as per the provisions of Chapter XIII of SEBI DIP Guidelines for Preferential Issue, subject to necessary provisions & approvals.

Source : Equity Bulls

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