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Board of Vardhman Special Steels allots 46.29 lakh equity shares to Aichi Steel Corporation

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At meeting held on 04 November 2019

The Board of Vardhman Special Steels at its meeting held on 04 November 2019 has allotted 46,29,629 fully paid-up equity shares having a face value of Rs 10 per equity share to Aichi Steel Corporation ('ASC') at a price of Rs 108 per Share, aggregating to Rs 49.99 crore by way of preferential allotment on private placement basis. Pursuant to such allotment of Subscription Shares, ASC holds 11.46% of the share capital of the Company.

Consequently, the issued share capital of the Company stands increased to 4,03,94,502 equity shares having a face value of Rs 10 each.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 04 2019. 17:08 IST
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