JSW Steel allots FCCBs

JSW Steel Ltd has announced that the Share Allotment Committee of Directors of the Company at its meeting held on June 27, 2007 has allotted US$ 325,000,000 Zero Coupon Foreign Currency Convertible Bonds due 2012 (the "Bonds"). Each Bond will, at the option of the holder, be convertible (subject to certain conditions) at any time on or after August 07, 2007 upto the close of business on June 21, 2012, by the holders into fully paid-up equity shares of Rs 10 each of the Company, at a conversion price of Rs 953.40 per Equity Share (subject to adjustments, if necessary, as per the terms of issue).

Source : Equity Bulls

Keywords