At meeting held on 31 July 2015
JBF Industries announced that the Board of Directors of the Company at its meeting held on 31 July 2015, has resolved to raise USD 150 million from KKR Jupiter Investors.Out of this amount of Rs. 491.23 crore will be invested in 16,374,370 equity shares of Rs. 10/- each of JBF Industries at a premium of Rs. 290/- per share by way of preferential allotment. The balance will be invested in 12,210,527 Compulsorily Convertible Preferred Shares of JBF Global, Singapore, a wholly owned subsidiary of the Company.
The Board of Directors decided to convene an Extraordinary General Meeting of the Company on 01 September 2015 to obtain consent of the Shareholders, for the above transaction. This transaction will be subject to required regulatory approvals.
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