Jindal Stainless allots over 30 lakh equity shares to Kotak Special Situations Fund

The current market cap of the company is Rs7,744.59cr.

Sep 08, 2021 02:09 IST India Infoline News Service

Jindal Stainless
Jindal Stainless Ltd has informed to the exchange regarding intimation of allotment of 30,08,225 equity shares. 

Last year, the company had informed that it had allotted 3,82,60,868 convertible equity warrants ("Warrants") of face value of Rs. 2/- (Rupees Two) each at a price of Rs. 42.55, on receipt of subscription money@ 33% of the issue price.

In this regard, Jindal Stainless informed that in terms of issue of Warrants, Kotak Special Situations Fund ("KSSF"), an alternate investment fund has exercised the option of conversion of 30,08,225 Warrants and the Company upon receipt of balance 67% of the subscription money on said Warrants, has today allotted 30,08,225 equity shares of face value of Rs. 2/- each to KSSF.

Consequent to above allotment, the paid-up equity share capital of the Company has increased from Rs. 1,00,25,29,530/- divided into 50, 12,64,765 equity shares of face value of Rs. 2/- each to Rs. 1,00,85,45,980/- divided into 50,42,72,990 equity shares of face value of Rs. 2/ each, said company in a filing.

At around 2:40 PM, Jindal Stainless was trading at Rs159.30 apiece up by Rs0.35 or 0.22% on Sensex.

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