Corporate News 04-Aug-18
Board of Hinduja Ventures approves subscription to rights shares offered by subsidiary
At meeting held on 03 August 2018
The Board of Hinduja Ventures at its Meeting held on 03 August 2018 accorded its approval to subscribe (a) 4,48,00,602 equity shares of Rs. 10/- each of IndusInd Media & Communication ('IMCL'), subsidiary of the Company, offered to the Company on rights basis in the proportion of 5 new equity share for every 11 equity shares held (5:11) at a price of Rs. 100/- per share (including premium of Rs. 90/- per share) and (b) such number of equity shares of IMCL which may be renounced in favour of the Company by the existing members of IMCL and such number of Equity shares not taken up or specifically renounced by the Shareholders of IMCL and may be made available to the Company under the relevant provisions of the Issue.
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