Shriram Transport Finance Company transfers 1.66 crore shares of Shriram Automall India

To MXC Solutions India

Shriram Transport Finance Company has transferred 16630435 Equity Shares of Shriram Automall India (SAMIL) of face value of Rs.10 each fully paid up to MXC Solutions India (MXC) at Rs.94.03 per share aggregating to Rs.156.37 crore. As such, MXC has become majority shareholder of SAMIL. As per the Shareholders' Agreement, the Board of Directors of SAMIL in its meeting held on 07 February 2018 appointed directors nominated by MXC on the Board of Directors of SAMIL which constitutes majority directors of MXC on the Board of Directors of SAMIL. Consequently, SAMIL has ceased to be a subsidiary of STFC from 07 Ferbruary 2018.

Powered by Capital Market - Live News