JBF Industries gains on issue of shares at premium to KKR Jupiter Investors

Shares of JBF Industries were up over 1% at Rs 252 on the BSE after the company's board at its meeting held on December 28,2015 approved issue of equity shares on a preferential basis at a a premium to the current market price.

The board has approved issue of 1,63,74,370 fully paid up equity shares of Rs 10/- each on preferential basis to KKR Jupiter Investors Pte Ltd., Singapore, at Rs 300/- per equity share (at a premium of Rs 290/- per equity share).

The board has also approved appointment of Mr Nikhil Srivastava as Additional Nominee Director as nominated by KKR Jupiter Investors Pte Ltd., Singapore, the company said in a release.

The stock opened at Rs 252 and touched a high of Rs 255. At 9:57am, over 250,000 shares were traded on both the stock exchanges.