Jindal Stainless Limited board approves warrants issue for Rs. 162.80 crore

The Board of Directors of Jindal Stainless Limited {the "Company") at its meeting held today, i.e. 26th August, 2020, considered and approved raising funds through issue of convertible equity warrants for an amount upto Rs. 162.80 Crore, on preferential basis, subject to the approval of shareholders of the Company at an Extra Ordinary General Meeting scheduled to be held on Thursday, 17th September, 2020.

Virtuous Tradecorp Private Limited, a promoter group company; and Kotak Special Situations Fund, an Alternate Investment Fund are the investors who will be allotted these warrants.

Shares of JINDAL STAINLESS LTD. was last trading in BSE at Rs.51.15 as compared to the previous close of Rs. 49.75. The total number of shares traded during the day was 67930 in over 476 trades.

The stock hit an intraday high of Rs. 52.2 and intraday low of 49.3. The net turnover during the day was Rs. 3477759.

Source : Equity Bulls

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