Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Stake Sale

| More

Subros Ltd approves preferential issue to DENSO Corporation at Rs. 400

Posted On: 2018-09-27 16:26:02

Pursuant to the in-principle approval of the Board of Directors ('Board') of Subros Ltd on August 9, 2018 for issue of 52,47,150 equity shares to DENSO Corporation, Japan ('DENSO') on preferential basis. The Board of the Company in their meeting held on 27th September, 2018 considered and approved the preferential issue and fixed the issue price at Rs. 400/- per equity share (including a premium of Rs. 398/-).

Post the preferential issue the shareholding of DENSO will increase to 20% as against the present 13%.

The Board also considered the following key benefits to the Company in this regard:

- Subros and DENSO will deepen the technical collaboration in order to contribute to the Customer's competitiveness strengthening in the rapidly growing Indian market.

- Subros to gain access to the new technologies to comply with India's environmental regulations with reference to fuel saving technologies and other regulatory changes.

- Subros to obtain access to DENSO's expertise to achieve global quality level in India

The board also approved convening the Extraordinary General Meeting of the Company to be held on 26th October, 2018 for seeking approval of the shareholders for approving the preferential issue.

Shares of SUBROS LTD. was last trading in BSE at Rs.319 as compared to the previous close of Rs. 340.3. The total number of shares traded during the day was 13347 in over 627 trades.

The stock hit an intraday high of Rs. 345 and intraday low of 318.3. The net turnover during the day was Rs. 4397146.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

IndusInd Bank Limited allots 21005 shares

ICICI Bank allots 356063 shares

Opto Circuits India Ltd approves preferential allotment at Rs. 15

Sun Pharma Advanced Research Company Ltd allots 60,60,606 shares

Hinduja Global Solutions Ltd allots 438 shares

ICICI Bank allots 52921 shares

AXIS Bank allots 42315 shares

RBL Bank allots 169684 shares

Kamdhenu Ltd allots 20 lakh shares on conversion of warrants

Simplex Infrastructures Ltd allots 6,02,000 shares on conversion of warrants

Firstsource Solutions Ltd allots 68875 shares

Shalimar Paints Ltd allots 3,11,43,042 shares on rights basis

Vakrangee Limited grants 246600 options

Ultratech Cement Ltd allots 990 shares

Tejas Networks Ltd allots 19916 shares

Hexaware Technologies Ltd allots 210220 shares

NIIT Technologies Ltd allots 78000 shares

NIIT Ltd allots 121,533 shares

Reliance Industries Ltd allots 79543 shares

ICICI Bank allots 47417 shares

AXIS Bank allots 5250 shares

Aditya Birla Fashion and Retail Ltd allots 22760 shares

Steel Strips Wheels Ltd allots 9450 shares

JK Cement allots 73,41,001 Equity Shares to QIBs

Rane Madras Ltd allots 365630 shares

Titagarh Wagons Ltd allots 600 shares

Future Consumer Ltd allots 36 lakh shares

Kotak Mahindra Bank Ltd allots 205853 shares

Oracle Financial Services Software Ltd allots 14834 shares

ICICI Bank allots 69101 shares

EPC Industrie Ltd allots 35871 shares

VBC Ferro Alloys Ltd allots 5 lakh shares on conversion of warrants

AXIS Bank allots 9325 shares

Firstsource Solutions Ltd allots 189500 shares

Gokak Textiles Ltd allots 3.5 crore NCNCNPRPS

ICICI Bank allots 396400 shares

WIPRO Ltd allots 507200 shares

3i Infotech Ltd allots 733,565 shares

Jubilant Industries Ltd allots 18 lakh shares

Muthoot Finance Ltd allots 371510 shares

Lupin Ltd allots 139150 shares

Bharat Financial Inclusion Ltd allots 13461 shares

Phoenix Mills Ltd allots 29250 shares

Trigyn Technologies Ltd allots 250000 shares

Future Lifestyle Fashions Ltd allots 29854 shares

Cyient Ltd allots 5629 shares

HDFC Standard Life Insurance Company Ltd allots 326,700 shares

IndusInd Bank Limited allots 253600 shares

Indiabulls Ventures Limited allots 10,76,363 CCDs

Larsen & Toubro Infotech Ltd allots 99687 shares

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019