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Hinduja Ventures to subscribe to rights issue of Hinduja Leyland Finance

Capital Market 

The Investment Committee of Hinduja Ventures at its Meeting held on 20 December 2018, accorded its approval to make an aggregate investment of Rs. 3,50,68,977 by subscribing to 2,29,209 equity shares of Hinduja Leyland Finance of Rs. 10/- each offered to the Company on rights basis at a price of Rs. 153/- per share (including premium of Rs. 143/- per share) pursuant to Letter of Offer dated 13 December 2018.

The Company's shareholding after subscribing to the equity shares offered on rights basis will increase to 1,60,44,647 equity shares (as against 1,58,15,438 equity shares) which would be equivalent to 3.46% on the enhanced equity paid up capital of Hinduja Leyland Finance.

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

First Published: Fri, December 21 2018. 17:06 IST