Jyoti allots shares, warrants on preferential basis

Jyoti Ltd has announced that the Board of Directors of the Company at its meeting held on September 07, 2010, have allotted the Equity Warrants / Equity Shares on preferential basis pursuant to the Special Resolutions already passed by the Shareholders under Section 81 (1A) in the Extraordinary General Meeting held on August 24, 2010.

1,20,000 Equity Warrants were allotted to Tejal Rahul Amin, Promoter of the Company and upto 8,80,000 Equity Warrants to Insutech Industries Pvt. Ltd. Promoter Group Entity, such that each warrant would be convertible into 1 fully paid-up Equity Shares of Rs. 10/- each at an exercise price of Rs. 83/- (including premium of Rs. 73/-) per share within 18 months from the date of its allotment.

18,00,000 Equity Shares of Rs. 10/- each at Rs. 83/- (including premium of Rs. 73/-) per share were allotted to allottees including Minal B Patel (12,00,000 shares) and Finquest Financial Solution Pvt. Ltd (6,00,000 shares).

12,00,000 Equity Shares of Rs. 10/- each at Rs. 83/- (including premium of Rs. 73/- per share) issued to Nirma Chemical Works Pvt. Ltd.

The stock was trading at Rs.91.80, up by Rs.1.75 or 1.94%. The stock hit an intraday high of Rs.94.75 and low of Rs.90.50.

The total traded quantity was 1.07 lakhs compared to 2 week average of 0.23 lakhs.

Source : Equity Bulls

Keywords