Jindal Hotels converts 1301000 warrants

Jindal Hotels Ltd has announced that the Board of Directors of the Company at its meeting held on October 18, 2010, inter alia, have converted fully paid up 13,01,000 Warrants of Rs. 20/- each into 13,01,000 Equity Shares and thereby allotted 13,01,000 Equity Shares to the warrant holders @ Rs. 10 each at a premium of Rs.10 per share.

Further the Company has informed that, the Paid up Capital of the Company was Rs. 4,69,90,000/- which has increased to Rs. 6,00,00,000/- on conversion of fully paid up 13,01,000 Warrants of Rs. 20/- each into 13,01,000 Equity Shares of @ Rs. 10 each at a premium of Rs. 10 per share.

The stock closed the day at Rs.61.80, down by Rs.0.90 or 1.44%. The stock hit an intraday high of Rs.64.20 and low of Rs.61.20.

The total traded quantity was 6977 compared to 2 week average of 19497.

Source : Equity Bulls

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