Hinduja Ventures Ltd invests in rights issue of Hinduja Leyland Finance Limited

The Investment Committee of Hinduja Ventures Ltd has on September 04, 2017 and Board on September 14, 2017 accorded its approval for making an aggregate investment of Rs. 7,94,66,700/- [Rupees Seven Crores Ninety Four Lakhs Sixty Six Thousand Seven Hundred Only] by subscribing to 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 Limited ('HLFL') at a price of Rs. 100/- per share (including premium of Rs. 90/- per share) pursuant to Letter of Offer dated September 01, 2017; and 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.

Shares of HINDUJA VENTURES LTD. was last trading in BSE at Rs.535 as compared to the previous close of Rs. 532.55. The total number of shares traded during the day was 1386 in over 43 trades.

The stock hit an intraday high of Rs. 538 and intraday low of 534. The net turnover during the day was Rs. 742837.

Source : Equity Bulls

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