The Hindu Business Line : Jindal Saw warrants allotment

Jindal Saw Ltd has said that the committee of directors had allotted 26,00,000 warrants and 27,30,000 - 9.5 per cent compulsorily convertible debentures (CCDs), both convertible into equity shares of the company at a price of Rs 819 each to Anbeeco Investments Ltd, Cyprus, on receipt of 10 per cent advance of Rs 81.90 a warrant and Rs 819 a CCD. Anbeeco Investments Ltd belongs to the promoter group of Jindal Saw.

The company informed the BSE on Thursday that each CCD shall be compulsorily converted into one equity share (Rs 10) of the company at a price not less than Rs 819 on or after April 2009 till September 20, 2009. Each warrant will be allotted one equity share (Rs 10) at a price not less than Rs 819 before March 31, 2009 in one or more tranches. - Our Bureau

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