JSL approves issue of 23447240 shares

JSL Ltd has announced that the Committee of Directors (CoD) of the Company at its meeting held on March 30, 2010, has approved the issuance of 2,34,47,240 Equity Shares of par value Rs. 2 each at a price of Rs. 105.50 per Equity Share (including a premium of Rs. 103.50 per Equity Share), aggregating to Rs. 2,47,36,83,820 (Rupees two hundred forty seven crores thirty six lacs eighty three thousand eight hundred twenty only) to Qualified Institutional Buyers, pursuant to Chapter VIII of the ICDR Regulations. Further the Company has informed that, the Committee of Directors has passed necessary resolutions fixing the Issue Closing Date for the said Issue as being March 30, 2010 and approving the Placement Document in this regard.

The stock was trading at Rs.109.35, up by Rs.3.55 or 3.36%. The stock hit an intraday high of Rs.113.15 and low of Rs.106.50.

The total traded quantity was 312913 compared to 2 week average of 67853.

Source : Equity Bulls

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