JSW Steel allots shares to promoter, merged entity's shareholders

JSW Steel Ltd has allotted 15,00,000 (Fifteen lacs) Equity Shares of Rs 10 each, fully paid up, to Mr. Sajjan Jindal & 65,00,000 (Sixty Five Lacs) Equity Shares of Rs 10 each fully paid up to JSW Investments Pvt Ltd (formerly known as Samarth Holdings Pvt Ltd) upon exercise of option attached to equivalent number of 'Series B' Warrants held by them.

1,50,35,712 (One crore fifty lacs thirty five thousand seven hundred twelve) Equity Shares of Rs 10/- each fully paid up and 99,00,000 (ninety nine lacs) 11% Cumulative Redeemable Preference Shares of Rs 10/- each, fully paid up to the Equity & Preference shareholders of Southern Iron & Steel Co. Ltd respectively, whose name appears in its Register of Members / Register of Preference Shareholders on March 25, 2008 being the Record Date fixed for the purpose, pursuant to the Scheme of Amalgamation of Southern Iron & Steel Co. Ltd (SISCOL) with JSW Steel Ltd sanctioned by the Hon'ble High Court of Judicature at Mumbai on February 22, 2008.

Consequent to the aforesaid allotments, the paid-up equity share capital of the Company stands increased from Rs 164,01,29,230/— to Rs 187,04,86,350/- comprising of 18,70,48,635 equity shares of Rs 10/- each.

The promoter's holding of 46.46% as on February 29, 2008 also stands revised to 46.97% consequent to the above allotments.

Source : Equity Bulls

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