NEW DELHI: JINDAL STAINLESS today said it has alloted 16.82 crore equity shares for about Rs 366 crore on preferential basis to Jindal Stainless (Hisar) to pay off its dues to the latter.

“On July 3, 2016, the company has allotted 16,82,84,309 equity shares of Rs 2 each at a price of Rs 21.76 (including premium of Rs 19.76 per share) per share to Jindal Stainless (Hisar)(JSHL) on preferential basis against Rs 3,66,18,66,570, being the amount due and payable by the Company to JSHL,” Jindal Stainless informed BSE today.

According to the statement, consequent upon the said allotment, paid up share capital of the company has increased from Rs 46.23 crore to Rs 79.89 crore divided into 39,94,69,754 equity shares of Rs 2 each. The said amount was due and payable by the company to JSHL as of close of business hours before midnight of March 31, 2014.–PTI