Jindal SAW Ltd has firmed up plans to set up three distinct lines of business spanning infrastructure (water transportation infrastructure and power generation), transportation (inland & coastal waterways transportation and rail transportation) and fabrication (shipbuilding and shipyards). With this objective in view, a company namely, Jindal ITF Ltd has been incorporated, which shall be subsidiary of Jindal SAW Ltd. These businesses will further be operated through separate companies with equity investment to be made by Jindal ITF Ltd. To meet the equity investment requirements of these new businesses, it has been proposed to allot the warrants/CCDs on preferential basis under the SEBI guidelines. The company proposes to issue approximately 26 lakh warrants and 27.3 lakh eight per cent unsecured Compulsorily Convertible Debentures (CCDs).The warrants and CCD shall be converted into 1 equity share of Rs 10 in the capita at a price not less than Rs. 891.
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