Jindal Stainless allots 68,00,000 equity shares on conversion of warrants

Jindal Stainless Ltd has announced that on February 16, 2007, the Company has allotted 68,00,000 equity shares of Rs 2/- each (representing 4.92% of the paid up share capital of the Company) upon conversion of 68,00,000 convertible warrants, to Jindal Overseas Holding Ltd, a Company forming part of promoters group.

Consequent upon the above said allotment, the paid up equity share capital of the Company has increased from Rs 26,28,42,412/- to Rs 27,64,42,412/- divided into 13,82,21,206 equity shares of Rs 2/- each and shareholding of promoter group has increased from 40.31% to 43.25%.

Source : Equity Bulls

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