Jai Balaji Industries Ltd approves conversion of warrants

The Board of Directors of Jai Balaji Industries Ltd at its meeting held today i.e 23rd June, 2017, which commenced at 2.45 p.m and concluded at 3.30 p.m have approved the part conversion of 46,00,000 convertible warrants into 46,00,000 Equity Shares of Rs.10/- each out of balance 82,05,000 convertible warrants to non-promoter, Mahesh Kumar Keyal-HUF, (represented by Shri Mahesh Kumar Keyal- Karta) pursuant to exercise of their rights of conversion of warrants into equity shares and accordingly the Board of Directors have allotted 46,00,000 equity shares of Rs. 10/- each fully paid up on account of conversion.

Consequent to the aforesaid allotment, the paid-up equity capital of the Company has increased from Rs.88,18,14,860/- consisting of 8,81,81,486 equity shares of Rs.10/- each to Rs.92,78,14,860/- consisting of 9,27,81,486 equity shares of Rs.10/- each.

Shares of JAI BALAJI INDUSTRIES LTD. was last trading in BSE at Rs.15 as compared to the previous close of Rs. 14.65. The total number of shares traded during the day was 1750 in over 18 trades.

The stock hit an intraday high of Rs. 15 and intraday low of 13.8. The net turnover during the day was Rs. 25340.

Source : Equity Bulls

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