Vardhman Special Steels Limited ('Company') has entered into a letter agreement dated November 2, 2019 for amendment to the share subscription and investment agreement dated August 10, 2019 executed by the Company with Aichi Steel Corporation ('Amendment Agreement').
The letter agreement for amendment of the SSIA provides the revised number of equity shares of the Company held by the promoters of the Company (along with the corresponding percentage) as on the Closing Date (as defined in the SSIA). The details of promoter shareholding in the Company, as originally provided in the SSIA, underwent a change since the execution of the SSIA; hence, necessitating the aforesaid amendment to the SSIA by way of the Amendment Agreement.
Shares of VARDHMAN SPECIAL STEELS LTD. was last trading in BSE at Rs.69.6 as compared to the previous close of Rs. 64.4. The total number of shares traded during the day was 3008 in over 166 trades.
The stock hit an intraday high of Rs. 72.9 and intraday low of 64.05. The net turnover during the day was Rs. 200872.