Jindal Steel & Power Ltd allots 4,80,00,000 Convertible Warrants

The Corporate Management Committee of the Board of Directors of Jindal Steel & Power Ltd at its meeting held on November 10, 2017 has issued and allotted 4,80,00,000 Convertible Warrants to Opelina Finance and Investment Limited, promoter group entity, at a price of Rs. 140.31 per warrant, entitling them for the subscription of equivalent number of equity shares of Re. 1/- each (including premium of Rs. 139.31 per share) as per Chapter VII of SEBI (ICDR) Regulations, 2009.

The Company has received the upfront subscription money equivalent to 25% of total issue price as per the terms of the preferential issue.

Shares of JINDAL STEEL & POWER LTD. was last trading in BSE at Rs.165.5 as compared to the previous close of Rs. 164.3. The total number of shares traded during the day was 1929389 in over 4451 trades.

The stock hit an intraday high of Rs. 167.65 and intraday low of 160.2. The net turnover during the day was Rs. 316960190.

Source : Equity Bulls

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