Jindal Saw withdraws from warrants issue

Jindal Saw Ltd has announced that with reference to the approval for the 27,30,000 Warrants convertible into equity shares of Rs 10/- each at a premium of Rs 298.08 each to Anbeeco Investments Ltd. on preferential basis, Anbeeco Investments Ltd. has expressed their inability to invest in Jindal Saw Ltd through warrants. Accordingly, the Company has withdrawn its application seeking approval from Foreign Investment Promotion Board.

The stock closed the day at Rs.516.30, up by Rs.7.40 or 1.45%. The stock hit an intraday high of Rs.522.25 and low of Rs.494.15.

The total traded quantity was 140041 compared to 2 week average of 110397.

Source : Equity Bulls

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