Force Motors today said its promoters have acquired more than one lakh shares of the company from the open market, thereby increasing their stake in the vehicle manufacturer to over 60 per cent.
"The promoters of the company, Jaya Hind Investments Pvt Ltd, have acquired 1,00,200 equity shares of Rs 10 each from the market on March 13, 2015," Force Motors said in a filing to the BSE.
With this acquisition, the number of shares held by the promoter group stands increased from 78,21,295 equity shares to 79,21,495 equity shares, from 59.36 per cent to 60.12 per cent of the total paid up share capital of the company, it added.
Pune-based Force Motors markets a range of products including small commercial vehicles, multi-utility vehicles (MUVs), light commercial vehicles, sports utility vehicles (SUVs) and agricultural tractors.
Force Motors shares ended at Rs 1,388.50 apiece on the BSE, down 2.22 per cent from their previous close.
