JK Tyre & Industries subscribes to rights issue of subsidiary - Cavendish Industries

JK Tyre & Industries has subscribed to the rights issue of its subsidiary, Cavendish Industries and has been allotted 47,87,679 equity shares at Rs 155 per share (including premium of Rs 145 per share) for an aggregate amount of Rs 74.21 crore. After the issue, the company's shareholding in Cavendish Industries has increased to 74.13% from 71.91% on standalone basis and to 87.46% from 86.41% with its subsidiary.

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