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

First Published: Wed, June 14 2017. 12:41 IST