Jindal Stainless allots 7550000 equity shares

Jindal Stainless Ltd has announced that on April 25, 2008 the Company has allotted 75,50,000 equity shares of Rs 2/- each (representing 4.66% of the paid up share capital of the Company) upon conversion of 75,50,000 convertible warrants to the promoters of the Company.

The allottees include Sh. Ratan Jindal (No. of shares : 37,75,000 - 2.33%) and Jindal Overseas Holdings Ltd (No. of shares : 37,75,000 - 2.33%).

Consequent upon the above said allotment, the paid up equity share capital of the Company has increased from Rs 30,91,69,864/- to Rs 32,42,69,864/- divided into 16,21,34,932 equity shares of Rs 2/- each and shareholding of promoter group has increased from 43.29% to 45.93%.

Source : Equity Bulls

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