Jindal Steel & Power Ltd allots 11,40,332 shares to Opelina Finance and Investment Ltd

Opelina Finance and Investment Limited, the convertible warrant holder, to whom 4,80,00,000 warrants were allotted in the month of November, 2017 on preferential basis, has exercised its right for conversion of part of the warrants into equity shares. Consequently, the Corporate Management Committee of the Board of Directors of the Company in its meeting held today i.e. April 30, 2019, has allotted 11,40,332 Equity Shares of Re. 1/- each at an issue price of Rs. 140.31 (including premium of Rs. 139.31) upon conversion of warrants into equity shares.

4,19,18,229 warrants are still outstanding for conversion.

Shares of JINDAL STEEL & POWER LTD. was last trading in BSE at Rs.177.55 as compared to the previous close of Rs. 174.75. The total number of shares traded during the day was 1174848 in over 5939 trades.

The stock hit an intraday high of Rs. 178.6 and intraday low of 168. The net turnover during the day was Rs. 204763757.

Source : Equity Bulls

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