JSL Stainless approves conversion of FCCBs into Equity Shares

JSL Stainless Ltd has announced that the Company have received a Notice dated January 04, 2011 through Citibank N.A., principal agent of the bond holders for conversion of 950 Foreign Currency Convertible Bonds (FCCBs) of US$ 5,000 each into 17,33,620 equity shares of Rs.2/- each.

The Company is in process of allotment of shares upon conversion of the said Convertible Bonds.

The stock closed the day at Rs.106.50, down by Rs.0.90 or 0.84%. The stock hit an intraday high of Rs.109.20 and low of Rs.105.65.

The total traded quantity was 0.26 lakhs compared to 2 week average of 0.32 lakhs.

Source : Equity Bulls

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