JK Tyre & Industries allots 1.32 cr equity shares on conversion of debentures

JK Tyre & Industries has allotted 1,32,96,398 equity shares of face value of Rs 2 each on conversion of 24,000 fully paid Compulsorily Convertible Debentures (carrying an interest at the rate of 6% per annum, compounded cumulatively on a quarterly basis) of face value of Rs. 1,00,000/- each (CCDs),issued to International Finance Corporation, a Qualified Institutional Buyer, by way of a preferential issue on a private placement basis, at a conversion price of Rs 180.50 per equity share.

Pursuant to aforesaid allotment of equity shares on conversion of CCDs, the issued, subscribed and paid-up equity share capital of the Company stands increased from 26,07,23,629 Equity Shares of Rs 2/- each to 27,40,20,027 equity shares of Rs 2/- each (all fully paid-up).