JSL Stainless Converts FCCBs

JSL Stainless Ltd have received a Notice dated June 07, 2011 through Citibank N.A., London, principal agent of the bond holders for conversion of 400, 0.50% Foreign Currency Convertible Bonds (FCCBs) of US$ 5,000 each, into 7,29,945 equity shares of Rs. 2 each.

Consequent upon above conversion, the paid up capital of the Company would increase from Rs. 37,46,31,584/- to Rs. 37,60,91,474/- divided into 18,80,45,737 equity shares of Rs. 2/- each.

The conversion price shall be at Rs. 119.872 per equity share in terms of the issue of said FCCBs.

The stock closed the day at Rs.104.65, up by Rs.2.85 or 2.80%. The stock hit an intraday high of Rs.105 and low of Rs.101.50.

The total traded quantity was 0.29 lakhs compared to 2 week average of 0.54 lakhs.

Source : Equity Bulls

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