Jindal Steel & Power Ltd allots 51,502,145 Equity Shares

The duly authorised Corporate Management Committee of the Board of Directors of Jindal Steel & Power Ltd has, at its meeting held today i.e. March 27, 2018, approved the issue and allotment of 51,502,145 Equity Shares of face value Re. 1 each to eligible qualified institutional buyers at the issue price of Rs. 233.0 per Equity Share (including a premium of Rs. 232.0 per Equity Share) against the floor price of Rs. 227.15 per Equity Share, aggregating to Rs. 1,999,999,785/-, pursuant to the QIP.

The Equity Share capital of the Company stands increased to Rs. 967,946,379/ consisting of 967,946,379 Equity Shares of face value Re. 1 each.

Shares of JINDAL STEEL & POWER LTD. was last trading in BSE at Rs.229.8 as compared to the previous close of Rs. 216.7. The total number of shares traded during the day was 914100 in over 5647 trades.

The stock hit an intraday high of Rs. 232.65 and intraday low of 220.2. The net turnover during the day was Rs. 208237031.

Source : Equity Bulls

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