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Jindal Stainless Limited Capital/Financing Update 2020
60705_rns_2020-02-27_d3efc045-7f4c-43da-bde6-6cd46b56d42e.pdf
Capital/Financing Update
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27" February, 2020
Listing Department, Listing Department, 1st Floor, New Trading Ring, Exchange Plaza, 5th Floor, Rotunda Building, P J Towers, Plot no. C/1, G Block Dalal Street, Fort, Bandra-Kurla Complex, Bandra (E), Mumbai — 400 001 Mumbai-400051 Email: [email protected] Email: [email protected] Security Code No.: 532508 Security Code No.: JSL
BSE Limited National Stock Exchange of India Ltd.
Subject: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Dear Sirs,
We wish to inform you that sub-committee of the Board of Directors of the Company has today approved to redeem 142,830,637 nos. of 0.01% Optionally Convertible Redeemable Preference Shares having face value of Rs. 2/- each ("OCRPS") earlier issued to Corporate Debt Restructuring ("CDR") lenders at a price of Rs. 39.10 per OCRPS vide Conversion cum Subscription Agreement dated 18th May, 2017 ("the Agreement").
As per the terms of the Agreement, OCRPS were redeemable, interalia, at the option of the Company, anytime upto 31st October 2020. Exercising its right, the Company will now redeem the aforesaid OCRPS at the issue price i.e. Rs. 39.10 alongwith the recompense on OCRPS calculated in accordance with the CDR Guidelines and as approved by CDR lenders , in the following manner:
- (i) face value of Rs. 2/- per OCRPS will be redeemed out of the funds raised through issue of equity shares to JSL Limited, a Promoter Group entity on 18" September, 2019; and
- (ii) balance amount of Rs. 37.10 per OCRPS and the recompense on OCRPS , out of the proceeds of issue of Non-convertible Debentures issued to Kotak Special Situations Fund on 26" February, 2020 and cash flows of the Company.
Please find enclosed herewith detailed disclosure enclosed as Annexure I, as required under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular dated 9" September, 2015.
You are requested to take the above information on record.
Thanking you,
Yours faithfully, For NANCE Sap Limited
Enclosed z as 'above _Sindal Stainless Lid. ~~ L26922HR1980PLC010901 Jindal Centre, 12 Bhikaiji Cama Place, New Delhi - 110066, India ' -O.P. Jindal Marg, Hisar - 125005 (Haryana) India ° +91 14 26188345, 41462000, 61462000 ~: +91 11 41659169 —: [email protected] <e: www.jindalstainiess.com, www.jsist ainless. com
| Annexure | ||
|---|---|---|
| Disclosure of information pursuant to Regulation 30 of the SEBI (Listing Obligations and DisclosureRequirements) Regulations, 2015 read with SEBI Circular dated gt September, 2015. | ||
| Sl.No. | Particulars | RedemptionOptionallyConvertibleofRedeemable Preference Shares ("OCRPS") |
| a. | type of securities proposed to be issued (viz. equityshares, convertibles etc.); | Not Applicable |
| issuancetype(furtherpublicoffering,rightsof(ADR/GDR),depositoryreceiptsqualifiedissue, | Not Applicable | |
| institutions placement, preferential allotment etc.);total number of securities proposed to be issued orthe total amount for which the securities will beissued (approximately); | Not Applicable | |
| in case of preferential issue the listed entity shalldisclose the following additional details to the stockexchange(s): | ||
| i. names of the investors;of securities - outcomeallotmentpostof theii. | Not Applicable | |
| subscription, issue price / allotted price (in case ofconvertibles), number of investors; | ||
| iii. in case of convertibles - intimation on conversiontenuresecuritieslapsethetheonoforofofinstrument | ||
| in case of bonus issue the listed entity shall disclosefollowingadditionalstockthedetailsthetoexchange(s): | Not Applicable | |
| i. whether bonus is out of free reserves created out | ||
| of profits or share premium account; | ||
| ii. bonus ratio;bonusdetails of shareandcapitalpostpreiii.-issue; | ||
| iv. free reserves and/ or share premium requiredfor implementing the bonus issue; | ||
| v. free reserves and/ or share premium available forwhichcapitalizationanddatesuchtheonasbalance is available; | ||
| vi. whether the aforesaid figures are audited;estimatedwhichbonussuchsharesdatebyvii. | ||
| would be credited/dispatcheddepositoryissuancecasereceiptsofofin(ADR/GDR) or FCCB the listed entity shall disclosefollowingadditional stockdetailstheto | Not Applicable | |
| exchange(s):namewhereexchange(s)stocktheofi.ADR/GDR/FCCBs(openingclosingarelisted— | ||
| status) / proposed to be listed;proposedunderlying theof equity sharesno.ii.ADR/GDR or on conversion of FCCBs;proposed |
| Admaturity and coupon offered, if ay vor FCCB's; | ||||
|---|---|---|---|---|
| iv. issue price of ADR/GDR/FCCBs (in terms of USDand in INR after considering conversion rate); | ||||
| v. change in terms of FCCBs, if any;vi. details of defaults, if any, by the listed entity inpaymentsubsequentcouponFCCBson&of | ||||
| updatesincluding therelationdefault,to theinmeasuresundertakencorrectivedetails of the(ifany); | ||||
| in case of issuance of debt securities or other nonconvertible securities the listed entity shall disclosefollowingadditionalthe — stockdetailsto | ||||
| exchange(s):size of the issue;i. | Not Applicable | |||
| whetherproposedlisted?beyes,toii,Ifname of the stock exchange(s); | Not Applicable | |||
| tenureinstrumentdatetheofofiii.-allotment and date of maturity | Not Applicable | |||
| coupon/interestscheduleoffered,iv.payment of coupon/interest and principal;charge/security,createdif any,V. | of Not Applicableover the Not Applicable | |||
| assets;special right/interest/privileges attached to Not Applicablevi. | ||||
| the instrument and changes thereof;interest / principal Not Applicablepaymentdelay | ||||
| ofvii.inamount for aperiod of more than threemonths from thedue dateor default inpayment of interest / principal; | ||||
| details of any letter or comments regardingviii.payment/non-paymentofinterest, | Not Applicable | |||
| principal on due dates, or any other matterconcerning the security and /or the assetsalong with its comments thereon, if any; | ||||
| details of redemption of preference sharesix.mannerredemptionindicatingtheof | The manner of redemption of OCRPS will be asunder: | |||
| (whetheroutoutof freshprofitsoforissue) and debentures; | per OCRPSface valuebe2/-willof Rs.(i)redeemed out of the funds raised throughequitysharesLimited,issueJSLoftoa | |||
| Promoter Group entity on 18" September,2019; andamount of Rs.per OCRPSbalance37.10(ii) | ||||
| and the recompense on OCRPS , out of theNon-convertibleproceedsissueofof | ||||
| DebenturesKotakSpecialissuedtoSituations Fund on 26" February, 2020(asinformed vide our letter of that date) andcash flows of the Company. | ||||
| terminationcancellationproposalanyfororofissuance of securities including reasons thereof | Not Applicable | |||
| stainlessJindalLie.L26922HR1980PLC010901»Jindal Gone, 12 Bhikaiji Cama Place, New Delhi -110066, India | ||||
| ~ ce: OR Jindal Marg, Hisar -125005 (Haryana) Indiae49126188346, 41462000, 61462000 +91 117 41659169 ©: [email protected]> www.jindalstainless.com, www jsistainless. com | ||||
