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Board of Hinduja Ventures approves investment of Rs 11.36 crore in Hinduja Leyland Finance

Capital Market 

At held on 09 January 2018

The of at its held on 09 January 2018 accorded its approval for making an aggregate investment of Rs. 11.36 crore by subscribing to:

(1)10,32,606 equity shares of Rs. 10/ each of Hinduja Leyland ('HLFL') offered to the Company on rights basis in the proportion of 1 new equity share for every 24 equity shares (1:24) at a price of Rs. 110/- per share (including premium of Rs. 100/- per share) pursuant to Letter of Offer dated 28 December 2017.

(2)289 equity shares of Rs. 10/- each of HLFL renounced in favour of the Company at a price of Rs. 110/- per shares (including premium of Rs. 100/- per share)

The Company's shareholding after subscribing to the equity shares offered on rights basis will increase to 2,58,15,438 equity shares (as against 2,47,82,543 equity shares) which would be equivalent to 5.66% on the enhanced equity paid up capital of HLFL

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 09 2018. 16:37 IST