Board of Kaushalya Infrastructure Development Corporation approves induction of equity investor

To unlock value in projects of subsidiaries

Kaushalya Infrastructure Development Corpn announced that Kaushalya Nirman, Orion Abasaan and Kaushalya Township had approached for consent to raise Equity Capital from investor to further their projects which may result in Kaushalya Infrastructure Development Corpn shareholding to become less than 50%. After due consideration and to unlock value in the projects of the Subsidiaries (not following within the definition of material subsidiary as per clause 49(III)(V) of Listing Agreement) and enable them to raise funds the Board of Directors gave their due consent.

Powered by Capital Market - Live News