Grand Foundry has allotted two crore shares (Minal Jangla: 1.80 crore shares and Kiran Jangla: 20 lakh shares) to its promoters, aggregating to ₹8 crore, on a preferential basis upon conversion of unsecured loans into equity shares.
The move is pursuant to the BIFR order dated September 7, 2015. Shares of Grand Foundry last traded on December 16 at ₹5.35 on the BSE.