Jai Balaji Industries Ltd to issue 22605000 warrants

The Board of Directors of Jai Balaji Industries Ltd at its meeting held on January 08, 2016, has approved the proposal to raise funds through issue of upto 22,60,5000 Warrants on preferential allotment basis to Shri. Jaikapish Steel Private Limited, Shri Sankatmochan Steel Private Limited, Mahesh Kumar Keyal (HUF) and Mahabali Enterprises Private Limited, at Rs. 10/- per warrant or the minimum price determined in accordance with the SEBI (ICDR) Regulations and applicable law, whichever is higher, convertible at the option of the holders into equivalent number of Equity Shares, subject to the approval of the shareholders and all statutory authorities.

The Board has also decided to conduct the postal ballot for seeking approval of the member for approving the aforesaid issue.

Shares of JAI BALAJI INDUSTRIES LTD. was last trading in BSE at Rs.10.45 as compared to the previous close of Rs. 10.15. The total number of shares traded during the day was 20062 in over 41 trades.

The stock hit an intraday high of Rs. 10.59 and intraday low of 10.06. The net turnover during the day was Rs. 205900.

Source : Equity Bulls

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