Jindal Stainless allots over 2 crore equity shares to promoter company VTPL; Stock gains over 1%

29 Mar 2022 , 09:18 AM

Virtuous Tradecorp Private Limited (VTPL), a promoter group company of Jindal Stainless Limited has exercised the option of conversion of remaining 2, 12,22,478 Warrants and the Company upon receipt of 67% of the subscription money on said Warrants, has on Monday allotted 2, 12,22,478 equity shares of face value of Rs2/- each to VTPL.

Consequent to above allotment, the paid-up equity share capital of the Company has increased from Rs1,00,85,45,980/- divided into 50,42,72,990 equity shares of face value of Rs2/- each to Rs1,05,09,90,936/- divided into 52,54,95,468 equity shares of face value of Rs2/- each.

Jindal Stainless Limited had earlier allotted 3,82,60,868 convertible equity warrants of face value of Rs2/- each at a price of Rs42.55, on receipt of subscription money@ 33% of the issue price.

At around 9.20 am, Jindal Stainless Ltd was trading at Rs190.20 per share up by Rs2.15 or 1.14% from its previous closing of Rs188.05 per share on the BSE.