Jindal Stainless - Allotment Of Equity Shares

Jindal Stainless Ltd has informed that on April 25, 2008 the Company has allotted 75,50,000 equity shares of Rs 2/- each (representing 4.66% of the paid up share capital of the Company) upon conversion of 75,50,000 convertible warrants to the following promoters of the Company:1. Name of the promoter : Sh. Ratan Jindal - No. of shares : 37,75,000 (2.33%)2. Name of the promoter : Jindal Overseas Holdings Ltd- No. of shares : 37,75,000 (2.33%)Consequent upon the above said allotment, the paid up equity share capital of the Company has increased from Rs 30,91,69,864/- to Rs 32,42,69,864/- divided into 16,21,34,932 equity shares of Rs 2/- each and shareholding of promoter group has increased from 43.29% to 45.93%.

Jindal Stainless To Convert Warrants Into Equity Shares

Jindal Stainless has received the balance amount of Rs 69,98,85,000 from the promoters of the company against conversion of 75,50,000 outstanding warrants allotted on preferential basis and the allotment of 75,50,000 equity shares of Rs 2 each upon conversion of 75,50,000 outstanding warrants would be made soon.

The company made this announcement during the trading hours today, 18 April 208.