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Board of Hinduja Ventures approves investment of Rs 5.22 crore in Hinduja Leyland Finance

Capital Market 

At meeting held on 13 June 2017

announced that the Investment Committee/ Board on 13 June 2017 accorded its approval for making an aggregate investment of Rs. 5.22 crore by subscribing to:

1] 5,52,762 equity shares of Rs. 10 each offered to the Company on rights basis by Hinduja Leyland at a price of Rs. 94 per share (including premium of Rs. 84 per share) as per Letter of Offer dated 02 June 2017; and

2] 3,505 equity shares of Hinduja Leyland renounced in favour of the Company at a price of Rs. 94- per share (including premium of Rs. 84/- per share).

The Company's shareholding after subscription to equity shares offered on rights basis and equity shares renounced will increase to 2,21,13,959 equity shares (as against 2,15,57,692 equity shares) which would be equivalent to 5.23% on the enhanced equity paid up capital of HLFL. The percentage of holding remains unchanged on the enhanced equity paid up capital of HLFL.

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Board of Hinduja Ventures approves investment of Rs 5.22 crore in Hinduja Leyland Finance

At meeting held on 13 June 2017

At meeting held on 13 June 2017

announced that the Investment Committee/ Board on 13 June 2017 accorded its approval for making an aggregate investment of Rs. 5.22 crore by subscribing to:

1] 5,52,762 equity shares of Rs. 10 each offered to the Company on rights basis by Hinduja Leyland at a price of Rs. 94 per share (including premium of Rs. 84 per share) as per Letter of Offer dated 02 June 2017; and

2] 3,505 equity shares of Hinduja Leyland renounced in favour of the Company at a price of Rs. 94- per share (including premium of Rs. 84/- per share).

The Company's shareholding after subscription to equity shares offered on rights basis and equity shares renounced will increase to 2,21,13,959 equity shares (as against 2,15,57,692 equity shares) which would be equivalent to 5.23% on the enhanced equity paid up capital of HLFL. The percentage of holding remains unchanged on the enhanced equity paid up capital of HLFL.

Powered by Capital Market - Live News

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Board of Hinduja Ventures approves investment of Rs 5.22 crore in Hinduja Leyland Finance

At meeting held on 13 June 2017

announced that the Investment Committee/ Board on 13 June 2017 accorded its approval for making an aggregate investment of Rs. 5.22 crore by subscribing to:

1] 5,52,762 equity shares of Rs. 10 each offered to the Company on rights basis by Hinduja Leyland at a price of Rs. 94 per share (including premium of Rs. 84 per share) as per Letter of Offer dated 02 June 2017; and

2] 3,505 equity shares of Hinduja Leyland renounced in favour of the Company at a price of Rs. 94- per share (including premium of Rs. 84/- per share).

The Company's shareholding after subscription to equity shares offered on rights basis and equity shares renounced will increase to 2,21,13,959 equity shares (as against 2,15,57,692 equity shares) which would be equivalent to 5.23% on the enhanced equity paid up capital of HLFL. The percentage of holding remains unchanged on the enhanced equity paid up capital of HLFL.

Powered by Capital Market - Live News

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22