Jindal Saw, part of the Jindal group, has withdrawn its application in which it had sought for an approval from the Foreign Investment Promotion Board (FIPB). This is in reference to the approval for the 2.73 million warrants convertible into equity shares of Rs 10 each at a premium of Rs 298.08 to Anbeeco Investments on a preferential basis.

The company said in a statement that Anbeeco Investments had expressed its inability to invest in Jindal Saw through warrants. This made the company to withdraw its application from FIPB.

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New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end on a strong note - Nabard FY14 operating surplus soars 28% to Rs 1,635 cr - RBI eases banks' term deposit restrictions - NMDC Q4 net down 21.74% to Rs 1,642.28 cr - Balrampur Chini Q4 profit up by 15%

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