CG Power & Industrial Solutions allots 6.87 cr equity shares to TII

The finance committee of the board of CG Power & Industrial Solutions on 19 December 2020 has allotted 6,87,28,522 equity shares of the company at a price of Rs. 14.55 (including premium) per equity share aggregating to Rs. 99.99 crore to Tube Investments of India (TII) on a preferential allotment basis.

Post the allotment of equity shares to TII as stated above, TII holds 53.16% of the paid up equity share capital of the Company. TII's aggregate shareholding (i.e. equity shares and convertible warrants held by TII) in the Company has increased from 56.61% to 58.58% of the share capital of the Company on a fully diluted basis.

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