Jindal Stainless board approves raising up to Rs 162.8 cr via issue of convertible equity warrants

Jindal Stainless Ltd on Wednesday said its board has approved raising up to Rs 162.8 crore through issue of convertible equity warrants

"The board of directors of Jindal Stainless Ltd at its meeting held today...considered and approved raising funds through issue of convertible equity warrants for an amount up to Rs 162.8 crore on preferential basis," the company said in a filing to the BSE

The nod is, however, subject to approval of shareholders of the company at an extra ordinary general meeting scheduled to be held on September 17, it said.