Jindal Hotels to consider conversion of warrants on Mar 16, 2010

Jindal Hotels Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 16, 2010, inter alia, to consider and take on record the balance money of Rs. 15/- per warrant received from the preferential Allottees on warrants convertible into Equity Shares.

The Board will consider to convert 11,75,540 fully paid up warrants into 11,75,540 Equity shares of the Company at a premium of Rs. 10/- per Equity Shares.

The Board will also consider to apply for Listing of 11,75,540 Equity shares (after conversion of warrant) at the Stock Exchange.

The stock was trading at Rs.48.35, up by Rs.1.70 or 3.64%. The stock hit an intraday high of Rs.50 and low of Rs.45.20.

The total traded quantity was 16495 compared to 2 week average of 4209.

Source : Equity Bulls

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