JSW Steel to consider raising funds on May 28, 2009

JSW Steel Ltd has announced that a meeting of the Board of Directors of the Company will be held on May 28, 2009, inter alia, to consider the Issue of Equity Shares / Securities convertible into Equity Shares, to eligible Qualified Institutional Buyers (QIB) in one or more tranches through Qualified Institutional Placement (QIP).

The Board will also consider proposal for raising additional long term resources in the International Capital market through issue of ADRs / GDRs / FCCBs / and /or any other Convertible instrument(s).

The stock closed the day at Rs.501.95, up by Rs.7.55 or 1.53%. The stock hit an intraday high of Rs.509.40 and low of Rs.482.15.

The total traded quantity was 490580 compared to 2 week average of 1215555.

Source : Equity Bulls

Keywords