Jindal Stainless promoter company buys GDS

Jindal Stainless Ltd has announced that the Company has received an intimation from Jindal Overseas Holding Ltd, a foreign incorporated entity forming a part of the promoter group of the Company informing about acquisition of 83,67,492 Global Depository Shares (GDS) representing 1,67,34,984 equity shares in and constituting 12.73% of the equity share capital of the Company.

The original FCCB issued by Jindal Strips Ltd. in December, 1999 and taken over by the Company under the Scheme of Arrangement, were subsequently converted into GDSs and they have been acquired by the promoter group of overseas Company.

These GDS are under depository with Citibank, New York.

Source : Equity Bulls

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