Share Market News: JTL Industries Approves Allotment of 2.50 Crore Warrants

JTL Industries has said that these warrants have been allotted to the non-promoter public category and promoter/promoter group.

Share Market News: Shares, JTL Industries, a small-cap metal firm, have given a return of 3 percent to the investors in the last 5 days, while in the last one month, it has given a return of 7.36 percent and in the last 6 months it has given a return of 35 percent. JTL Industries has informed the stock market that the Securities Issue and Allotment Committee meeting of its Board of Directors has approved the allotment of 2.50 crore fully convertible warrants at the issue price of Rs 270.

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JTL Industries has said that these warrants have been allotted to the non-promoter public category and promoter/promoter group. These convertible warrants can be converted into shares at any time.

These convertible warrants are being allotted after receiving 25 percent of the subscription amount. These warrants of JTL Industries are being issued at the face value of Rs 2. The allottees have to pay the remaining 75 percent amount within 18 months of allotment of these warrants.

Promoter’s stake in JTL Industries is around 56 percent while foreign investors’ stake is 1.62 percent and retail investors’ stake is 41.5 percent. The expansion plan is being worked on in the JTL Tubes factory in Maharashtra. JTL Industries has two manufacturing units in Punjab and Maharashtra.

Disclaimer: The article is for informational purposes only and not investment advice.