JSW Steel Ltd allots shares

JSW Steel Ltd has announced that the Share allotment Committee of Directors of the Company at its meeting held on March 20, 2007, has allotted the following:

a. 5,00,000 Equity Shares of Rs 10 each to Mr. Sajjan Jindal & 65,00,000 Equity Shares of Rs 10 each to JSW Investments Pvt Ltd (Formerly known as Samarth Holdings Pvt Ltd) upon exercise of option attached to 'Series A' Equity Warrants held by them.

b. 5 Equity Shares of Rs 10 each against 5 Equity warrants upon annulment of forfeiture of shares to the holders thereof.

Accordingly the issued & subscribed Equity share capital of the Company stands increased from Rs 156,97,88,080/- to Rs 163,97,88,130/- comprising of 163,97,88,13 equity shares of Rs 10/- each.

The promoters’ holding of 44.65% as on February 28, 2007 also stands increased to 47.01% upon the conversion of the aforesaid 70 lakh Equity Warrants.

Source : Equity Bulls

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