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Hinduja Ventures announced that the Investment Committee on 04 September 2017 and Board on 14 September 2017 accorded its approval for making an aggregate investment of Rs. 7.94 crore by subscribing to :
1. 7,89,784 equity shares of Rs. 10/- each offered to the Company on rights basis in the proportion of 1 new equity share for every 28 equity shares (1:28) by Hinduja Leyland Finance ('HLFL') at a price of Rs. 100/- per share (including premium of Rs. 90/- per share) pursuant to Letter of Offer dated 01 September 2017; and
2. 4,883 equity shares of HLFL renounced in favour of the Company at a price of Rs. 100/- per share (including premium of Rs. 90/- per share).
The Company's shareholding after subscription to equity shares offered on rights basis and equity shares renounced will increase to 2,29,08,626 equity shares. The percentage of holding remains unchanged on the enhanced equity paid up capital of HLFL.
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