Jindal Stainless to consider date for issuing shares to JSHL

Jindal Stainless today said its board would on May 28 consider fixing the record date for issuing securities worth over Rs 366 crore to Jindal Stainless (Hisar) Ltd (JSHL).
These share are to be issued as part of a composite scheme of arrangement involving Jindal Stainless, JSHL, Jindal United Steel Ltd and Jindal Coke Ltd as well as their respective shareholders and creditors.
The scheme was approved by the Punjab and Haryana High Court in September, 2015.
In a regulatory filing today, Jindal Stainless said its board would meet on May 28 to consider "fixation of record date for issuance of equity shares of the company to JSHL for a total amount of Rs 366,18,66,570..."

The number of securities to be issued would depend upon the price at which such equity shares of the company would be given to JSHL as per Sebi norms.