Jai Balaji Industries Ltd to issue 5 crore warrants

The Board of Directors of Jai Balaji Industries Ltd at its meeting held on Thursday, 21st April, have, considered and approved issue and allotment of upto 5,00,00,000 (five crore) warrants ("warrants") of the Company at a price of Rs. 52/- (Rupees Fifty Two only) per warrant with a right to the warrant holders to apply for and be allotted 1 (One) Equity Share of the face value of Rs. 10/- (Rupees Ten only) each of the Company ("Equity Shares") at a premium of Rs.42/- per equity share for each warrant, for total amount upto Rs. 2,60,00,00,000/- (Rupees Two hundred sixty crore only) within a period of 18 (Eighteen) months from the date of allotment of the warrant, to Hariaksh Industries Private Limited, Shri Mahatejas Vinimay Private Limited, Shri Keshrinandan Trade Private Limited, all forming part of Promoter group and Mahananda Securities Ltd., non-promoter, on preferential basis ("Preferential Issue").

Shares of Jai Balaji Industries Limited was last trading in BSE at Rs. 56.90 as compared to the previous close of Rs. 55.50. The total number of shares traded during the day was 7503 in over 120 trades.

The stock hit an intraday high of Rs. 58.00 and intraday low of 55.45. The net turnover during the day was Rs. 428039.00.

Source : Equity Bulls

Keywords

JaiBalajiIndustries INE091G01018 ConvertibleWarrants PreferentialIssue