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Jindal Stainless board approves raising up to Rs 163 cr via convertible equity warrants

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NEW DELHI: Jindal Stainless Ltd with Wednesday said its board has approved raising up to Rs 162.6 crore through issue involving convertible equity warrants.

“The board involving directors of Jindal Stainless Ltd in its meeting held today…viewed as and approved raising cash through issue of convertible equity warrants for an volume up to Rs 162.8 crore on advantageous basis,” the company explained in a filing to often the BSE.

The nod is definitely, however, subject to endorsement of shareholders of the firm at an extra ordinary normal meeting scheduled to possibly be held on September 17, it said.

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