Jaiprakash Associates Ltd allots 48,71,585 equity shares

Jaiprakash Associates Ltd has on 23rd September 2021 received a notice for conversion in terms of the Consent Solicitation and Information Memorandum (CSIM) dated 24th May 2017, through the Conversion Agents, namely The Bank of New York Mellon, London for conversion of aggregate principal amount of Bonds for USD 20,55,200 (i.e. 5872 Bonds of Series A of USD 350 each), out of total amount of USD 38.64 Million of Series A Bonds (i.e. 110,400 Bonds of USD 350 each).

As per the conversion terms, the Finance Committee of the Board of Directors of the Company passed Resolution by Circulation on 29th September, 2021 approved the said conversion & allotted 48,71,585 equity shares of Rs.2 each of the Company at a pre-determined conversion price of Rs.27 per share with premium of Rs. 25 per share and the conversion of the FCCBs was done at the agreed rate of exchange of 1 USD=Rs 64 as per CSIM pursuant to the said notice and the said shares shall be credited in the demat account of Orbis SICA V Global Balanced Fund in terms of conversion notice. With this the paid up share capital shall increase from RsA,899,448,110 to RsA,909,191,280. The Company shall take requisite actions for filing applications to NSE & BSE for listing of the said equity shares, admission of share capital with NSDL and CDSL, seeking trading approvals of NSE and BSE.

Shares of Jaiprakash Associates Limited was last trading in BSE at Rs. 8.15 as compared to the previous close of Rs. 8.32. The total number of shares traded during the day was 1413268 in over 2499 trades.

The stock hit an intraday high of Rs. 8.48 and intraday low of 8.07. The net turnover during the day was Rs. 11597659.

Source : Equity Bulls

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