From 45.23% to 11.11%
Electrosteel Castings announced that post allotment of 7,39,91,32,055 equity shares of Rs 10 each by Electrosteel Steel (ESL) on a preferential/private placement basis to financial creditors of the ESL, the company's stake in ESL stands reduced from 45.23% to 11.11% of the paid up share capital of ESL. The investment of the Company in ESL is 1,08,98,00,000 equity shares of face value of Rs 10 each.Consequent to the above, ESL ceased to be an associate of the Company.
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