You are here: Home » Companies » News
No respite in material and supply chain costs in near term, says Havells
DVI Fund Mauritius dilutes 3.3% stake in GMR Infra for Rs 720 crore
Business Standard

Escorts receives approvals to change its name to Escorts Kubota Ltd

The name change comes in the wake of Japan's Kubota Corporation increasing its stake in Escorts to 44.8% by subscribing to new equity shares and through

Topics
Escorts

Press Trust of India  |  New Delhi 



Volumes, price hike aid Escorts's Q3 performance
Nikhil Nanda continues to be the Chairman and Managing Director (CMD) of the company.

Farm machinery and construction equipment maker on Thursday said it has received requisite approvals for changing its name to Kubota Ltd.

The name change comes in the wake of Japan's Kubota Corporation increasing its stake in to 44.8 per cent by subscribing to new equity shares and through

an open offer to the public shareholders of Escorts.

Kubota has also become a joint promoter of the company along with existing promoters, the Nanda family, whose shareholding in the company remains unchanged.

Nikhil Nanda continues to be the Chairman and Managing Director (CMD) of the

company.

"Our partnership with Kubota in Escorts Kubota Ltd has been welcomed by all our stakeholders and investors. Consequently, the process was completed smoothly. We are now well poised at a very interesting time in global history to contribute at much higher levels to India and the world's quest for food security, sustainable agriculture and smart agriculture," Nanda stated.

Kubota President and Representative Director Yuichi Kitao noted: "We are very

pleased to partner with Escorts Kubota Ltd at a time when we can combine our strengths to provide advanced farm mechanisation solutions to address global food security & enhanced farm productivity needs".

In December last year, shareholders of Escorts Ltd had approved preferential allotment of nearly 94 crore shares to Kubota, as part of a deal, allowing it to become a joint promoter in Escorts.

(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.)


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Thu, June 09 2022. 20:52 IST

RECOMMENDED FOR YOU

.