Board of Escorts allots 1.22 cr equity shares to Kuboto Corp, Japan

At meeting held on 16 July 2020

The Board of Escorts at its meeting held on 16 July 2020 has approved the allotment of 1,22,57,688 equity shares at issue price of Rs 850 per share (including premium of Rs 840 per share) on preferential basis for an aggregate consideration of Rs 1041.90 crore to Kubota Corporation, Japan by way of preferential allotment on private placement basis. Pursuant to such allotment of Subscription Shares, the Kubota Corporation holds 9.09% of the share capital of the Company.

Pursuant to the allotment, the paid up equity share capital of the company has increased to Rs 134.83 crore consisting of 13,48,34,566 equity shares of Rs 10 each.

 

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