Jindal Stainless to allot equity shares

On conversion of Compulsory Convertible Preference Shares

Jindal Stainless announced that the Company have received a Notice dated 22 September 2015, from JSL Overseas, a member of promoter group, for conversion of 48,10,440 Cumulative Compulsory Convertible Preference Shares (CCCPS) of Rs. 2 each into 48,10,440 Equity Shares of Rs. 2 each of the Company.

The Board / Committee of Directors would consider and decide on allotment of Equity shares to JSL Overseas pursuant to the above said notice and thereupon the paid up equity share capital of the Company would increase from existing Rs. 45,27,50,010 to Rs. 46,23,70,890 divided into 23,11,85,445 equity shares of Rs. 2 each. The requisite formalities for listing of the new shares shall be completed post allotment of the shares.

 

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