Pennar Industries makes further investment in subsidiary

Invests Rs 49.5 crore in share capital of Pennar Renewables

Pennar Industries announced that Pennar Industries (PIL) has invested initially Rs. 2.9 lakh and acquired 29,411 no. of Equity shares on 14 October 2015 and pursuant to the said investment, Pennar Renewables (PRPL) becomes the subsidiary' company. Later on as per the understanding and terms of the investment the Pennar Industries has further invested an amount of Rs. 49.5 crore for 49,80,392 No. of Equity shares in PRPL.

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