Jindal Saw forfeits warrant advance money

Jindal Saw Ltd has announced that the 26,00,000 warrants were allotted to Anbeeco Investments Ltd (Allottee) on preferential basis under the SEBI (Disclosure & Investor Protection) Guidelines, 2000 on May 22, 2008. Each of these warrants was convertible into one equity share of Rs 10/- each at a price not less than Rs 819/- upto March 31, 2009 at the option of the Allottee.

As the Allottee has not exercised the option to convert the above warrants into equity shares, the amount of advance @ 10% of per warrant stands forfeited in accordance with above SEBI Guidelines.

The stock was trading at Rs.184, up by Rs.4.45 or 2.48%. The stock hit an intraday high of Rs.190 and low of Rs.181.55.

The total traded quantity was 64690 compared to 2 week average of 130442.

Source : Equity Bulls

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