Gujarat NRE Coke has entered into an option off-take agreement over 10 years with Jindal Steel & Power, for a total annual off-take of 500,000 MTPA of Run of Mine (ROM) coal with the option for additional quality of 500,000 MTPA at benchmark linked price.
Besides this, the company would also make a placement of new shares in favour of Jindal Steel & Power (Mauritius). The agreement is to place 100,000,000 fully paid ordinary shares at a price of & 0.25 per share representing a premium of approximately 48% of the last traded market price of GNM scrip at $0.17 on May 25, 2012. Further, the shares would be issued by the company under the 15% placement limit available under listing Rule 7.1. The placement is expected to be completed by May 30, 2012.
Gujarat NRE Coke is the only Indian company with coking coal mines in Australia having over 650 million tones of Coking Coal resources with excellent coking properties. The coal mines are owned through its subsidiary- Gujarat NRE Coking Coal, listed on the ASX.
| Company Name | CMP |
|---|---|
| Petronet LNG | 279.40 |
| Bharat Coking Coal | 36.29 |
| Linde India | 7167.00 |
| Refex Industries | 259.15 |
| IRM Energy | 238.70 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: