Jai Corporation

[jnj333]

Jai Corp - Outcome of Board Meeting



News Body:
Jai Corp Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 19, 2007, inter alia, has decided the following:

1. To call an Extraordinary General Meeting of the Members of the Company on November 17, 2007.

2. Out of 4,85,000 un-classified shares, to classify 1,35,000 un-classified and un-issued shares of face value Rs 100/- into 1,35,00,000 redeemable preference shares of face value of Re 1/- each; and to re-classify and change face value of the un-issued 1% 15,000 non-cumulative non-participating redeemable preference shares of Rs 100/- each to 15,00,000 redeemable preference shares of Re 1/- each; and to alter the Capital clause of the Memorandum and Articles of Association of the Company to give effect to this re-classification.

3. To issue equity shares of aggregate value of approximately Rs 612 crores on a preferential / private placement basis under Chapter XIII of SEBI (Disclosure & Investor Protection) Guidelines, 2000.

4. To issue redeemable preference shares of aggregate value of upto Rs 1500 crores to the promoters on preferential basis.

The above decisions of the Board are subject to shareholders' approval and such other permissions, sanctions and approvals as may be required under applicable laws.

 

[jnj333]

Govt okays 7 firms for Navi Mumbai SEZs
BS Reporter / New Delhi October 20, 2007
First-of-its-kind corporate structure to ease funding issues for SEZ.

An empowered group of officials today approved with conditions seven co-developers for the four Navi Mumbai special economic zones (SEZs) being developed by Mukesh Ambani, his associate Anand Jain and the Maharashtra government.

All seven co-developers are owned 40 per cent by Jai Corp, a company promoted by Jain, while other business associates hold the remaining stake.

These seven companies will build infrastructure for the SEZs, including power plants, an electricity transmission and distribution network, water supply, sewage plants, residential complexes and the industrial structures.

Analysts said that the move to have separate companies to develop infrastructure in the zones has been done to attract strategic investment.

"The promoters can sell a stake in the seven companies to raise funds, said an SEZ analyst, adding: It would have been difficult to interest strategic investors had it been a single company.

According to Reliance Industries executives, the capital investment in the Navi Mumbai SEZs and the proposed Mumbai SEZ is likely to be Rs 35,000 crore.

Commerce ministry officials said that other developers could take a cue from this and float similar companies to bankroll their plans.

"The approval was given subject to their producing data on the net assets of the co-developers," said Commerce Secretary G K Pillai, who chairs the inter-ministerial board of approval for SEZs.

Jai Corp recently raised Rs 2,500 crore by selling 10 per cent to a clutch of investors including Goldman Sachs. This money, sources in the know of things said, will be used to fund the seven entities.

Originally, the Navi Mumbai SEZ was to be set up in an area of more than 5,000 hectares. But after an Empowered Group of Ministers put a cap of 5,000 hectares on SEZs and prohibited state governments from acquiring land for private zones, it was divided into four.

While one is a multi-product SEZ (it has received in-principle approval), the other three, which have been formally approved, will house pharmaceutical, IT and auto-components firms.
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JAI CORP+MUKESH AMBANI+CIDCO = PROMOTOR -> MULTIPRODUCT SEZ

ANAND JAIN+MUKESH AMBANI & ASSOCIATES = PROMOTER -> 3 SEZ

JAI CORP 40% + OTHER 60% TOTAL 7 CO DEVELOPERS/IMPLEMENTOR FOR THE ABOVE

OTHER 60%- RIIL ONE OF THEM ????? MOST PROBABLY

BUY CALL FOR RIIL - COULD BE A MUTIBAGGER TARGET 5 DIGITS

 

[Anid_007]

has anybody received the second lot of split(so called Bonus) shares? any idea when we are going to get those?

 

[vishnuindian]

will jai corp reach 15000 mark....

can we buy at current price? ?

 

[lamerider2]

At last, Today i see Jai Corp going down:: -5% LC

Probably this was awaited until i bought it.. Y did this happen, i kept on trying to buy the scrip and when i am finally able to get through, it goes down -5% straight away the next day.

Seniors please explain and advice..

thanks

 

[vishnuindian]

what hapend to thr great JAI CORP???


going down.....

 

[jnj333]

HOLD tight!!!! Don't take short term views on Jai Corp. Hold for Long term.

 

[Anid_007]

At last, Today i see Jai Corp going down:: -5% LC

Probably this was awaited until i bought it.. Y did this happen, i kept on trying to buy the scrip and when i am finally able to get through, it goes down -5% straight away the next day.

Seniors please explain and advice..

thanks

Dont see its price on daily basis. See after 6 months to 1 year

 

[rohit3758]

Hold it . I am doing the same.

 

[lamerider2]

What if it further slips down to 500 levels??