RM Mohite Textiles to Invest in equity shares of MMPL, explore infrastructure opportunities

RM Mohite Textiles Ltd has announced that the Company has decided to get controlling interest in M/s Mohite & Mohite (Engineers & Contractors) Pvt Ltd (MMPL) and make it a subsidiary Company of the Company, which is a public limited company, equity shares of which are listed on BSE. The Company would be exploring infrastructure opportunities through its subsidiary Company viz., MMPL.

MMPL would be issuing 1098500 numbers of fully paid equity shares of Rs 10 each to the Company at a premium of Rs 190/- per share. Shri Dilip Mohite and Shri Shivaji Mohite, having 0.80% shareholding each in MMPL prior to allotment of such shares to the Company. Shri Dilip Mohite & Shri Shivaji Mohite, are having controlling interest of about 71.67% in the Company.

MMPL was incorporated on September 16, 2002 as a private limited Company. MMPL is engaged in the activity of construction on of earthen dams.

Source : Equity Bulls

Keywords