Jaiprakash Associates on Thursday said that the Finance Committee of the Board of Directors of the Company has approved conversion & allotted 1,17,80,740 equity shares of Rs2 each.
As per the regulatory filing, the transaction will be done at a pre-determined conversion price of Rs.27 per share with a premium of Rs. 25 per share and the conversion of the FCCBs was done at the agreed rate of exchange of 1 USD= Rs 64 as per CSIM ).
Further, Jaiprakash Associates stated that according to the said notice and the said shares shall be credited in the Demat account of Cowell and Lee Investment (Mauritius) Limited.
With this, the paid-up share capital shall increase from Rs486.49cr to Rs488.85cr.
The Company shall take requisite actions for filing applications to NSE & BSE for the listing of the said equity shares, admission of share capital with NSDL and CDSL, seeking trading approvals of NSE and BSE.
On Sensex, Jaiprakash Associates closed at Rs7.26 per piece flat compared to the previous closing.