TVS Srichakra Limited to participate in rights issue of TVS Srichakra Investments Ltd

TVS Srichakra Limited (TSL), has announced that it is participating in the Rights Issue offered by our wholly owned subsidiary, TVS Srichakra Investments Limited (TVSSIL), to the extent of our entitlement, i.e. 2,85,271 shares for a consideration of Rs.3,49,99,899/-.

Simultaneously, TVS Srichakra Investments Limited (TVSSIL) will be participating in the Rights Issue offered by its wholly owned subsidiary TVS Sensing Solutions Private Limited (formerly ZF Electronics TVS India Private Limited) to the extent of its entitlement, i.e. 339805 shares for a consideration of Rs.3,49,99,915/-.

In turn, TVS Sensing Solutions Private Limited will be participating in Compulsorily Convertible Preference shares to the extent of 350,000 shares at Rs.100/- each in Fiber Optic Sensing Solutions Private Limited, a subsidiary of TVS Sensing Solutions Private Limited.

Shares of TVS Srichakra Ltd., was last trading in BSE at Rs. 2209.35 as compared to the previous close of Rs. 2177.15. The total number of shares traded during the day was 547 in over 213 trades.

The stock hit an intraday high of Rs. 2251.15 and intraday low of 2183.25. The net turnover during the day was Rs. 1216527.

Source : Equity Bulls

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