Jaiprakash Associates forfeits warrant application money

Jaiprakash Associates Ltd has announced that July 21, 2009 was the last date for conversion of outstanding 4 Crore Convertible Warrants issued by the Company, on Preferential basis, on January 22, 2008.

Since the Company has not received the balance amount payable for conversion of the said Warrants into Equity Shares, the option of the Allottee of Warrants stands lapsed and, as per the terms of the Issue, the advance received against the said Warrants stands forfeited.

The stock was trading at Rs.222.30, down by Rs.3.20 or 1.42%. The stock hit an intraday high of Rs.233 and low of Rs.219.

The total traded quantity was 4539612 compared to 2 week average of 4543897.

Source : Equity Bulls

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