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| Exchange Disseminated Time 03/07/2016 17:07:31 | Jindal Stainless Ltd has informed BSE that on July 03, 2016, the Sub Committee of Board of Directors of the Company has allotted 16,82,84,309 (Sixteen Crore Eighty Two Lacs Eighty Four Thousand Three Hundred Nine) equity shares of Rs.2 each at a price of Rs.21.76 (including premium of Rs.19.76 per share) per share to Jindal Stainless (Hisar) Limited (“JSHL”) on preferential basis against Rs.366,18,66,570/- (Rupees Three Hundred Sixty Six Crore Eighteen Lacs Sixty Six Thousand Five Hundred Seventy only), being the amount due and payable by the Company to JSHL as of the ‘Appointed Date 1' i.e. close of business hours before midnight of March 31, 2014 as specified in the Composite Scheme of Arrangement amongst the Company, JSHL, Jindal United Steel Limited and Jindal Coke Limited and their respective shareholders and creditors, as approved by the Hon’bie High Court of Punjab & Haryana at Chandigarh vide its order dated September 21, 2015 (as modified vide order dated October 12,2015).
Consequent upon the said allotment, paid up share capital of the Company has increased from Rs.46,23,70,890/- to Rs.79,89,39,508/- divided into 39,94,69,754 equity shares of Rs.2 each. |
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