Explained: Why Jai Corp share price hit 52-week low today
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6 days, 17 hours ago

Explained: Why Jai Corp share price hit 52-week low today

India Today  

Shares of Jai Corp Ltd extended their losses on Friday, hitting a 52-week low in early trade. The steep decline in Jai Corp’s share price over two sessions stems from a significant capital reduction proposal involving Urban Infrastructure Holdings Private Limited, where Jai Corp holds a 32% equity stake. DIPL sold a 74% equity stake in Navi Mumbai IIA Private Limited to Reliance Industries Ltd for Rs 1,628.03 crore, with the City and Industrial Development Corporation retaining a 26% stake. Additionally, UIHPL anticipates Rs 682 crore from redeeming optionally fully convertible debentures in Vinamra Universal Traders Private Limited, bringing the total funds to a minimum of Rs 3,772 crore. UIHPL plans to reduce 99.76% of its share capital, comprising equity and fully compulsorily convertible preference shares, distributing Rs 3,746.87 crore proportionately among its shareholders.

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History of this topic

Jai Corp shares hit 20% lower circuit, plunge to 52-week low amid capital reduction proposal by subsidiary UIHPL
Trending News
1 week ago

Jai Corp shares hit 20% lower circuit, plunge to 52-week low amid capital reduction proposal by subsidiary UIHPL

Live Mint  

Jai Corp share price saw a sharp decline on Thursday, January 2, plunging to its 52-week low of ₹247.90, after hitting the 20% lower circuit limit, accompanied by heavy trading volumes. Jai Corp also disclosed that the capital reduction proposal includes a provision to increase the consideration payable, ensuring UIHPL retains sufficient cash reserves for its daily operations. Recent Developments …

Jai Corp share price plummets nearly 20% today. Here's why
Trending News
1 week ago

Jai Corp share price plummets nearly 20% today. Here's why

India Today  

Shares of Jai Corp Ltd nosedived nearly 20% in Thursday's trading session, hitting Rs 250 by 11:32 AM. The sharp drop comes after the company disclosed a significant capital reduction proposal involving Urban Infrastructure Holdings Private Limited, in which it holds a 32% equity stake. Jai Corp informed stock exchanges that UIHPL plans to convene an extraordinary general meeting to …

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