Corporate News 01-Sep-22
MM Forgings acquires 88% stake in Abhinava Rizel
MM Forgings has agreed to make a strategic investment in Abhinava Rizel by subscribing to equity shares equivalent to 88% of the issued and paid-up share capital of the Investee Company. Towards this end, the Company at its meeting held today, i.e., 01 September, 2022 entered into a share subscription and shareholders' agreement (SSHA) executed by MMF with the Investee Company, the Promoters and Existing Shareholders, to subscribe to the shares of Investee Company aggregating to 88% of the issued and paid up share capital of the Investee Company.
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