Jai Balaji Industries Ltd has informed BSE that the duly authorized committee of the Board of Directors of the Company viz. Management (Finance) Committee, at its meeting held on October 23, 2009 has approved the issuance of 8,295,586 Equity Shares of face value of Rs. 10/- each to Qualified Institutional Buyers under QIP as per Chapter VIII of the SEBI Regulations at a price of Rs. 239.30 per Equity Share (Including a premium of Rs. 229.30 per Equity Share), aggregating to Rs. 1985.13 million and has decided to close the Issue on October 23, 2009.
Further the Company has informed that, the Floor Price in respect of the aforesaid Qualified Institutions Placement, based on the pricing formula as prescribed in Regulation 85 of Chapter VIII of SEBI Regulations is Rs. 239.21 per Equity Share and the Relevant Date for this purpose in terms of Regulation 81 of chapter VIII of SEBI Regulations is October 20, 2009.
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