The Investment Committee/ Board on June 13, 2017 accorded its approval for making an aggregate investment of Rs. 5,22,89,098/- [Rupees Five Crores Twenty Two Lakhs Eighty Nine Thousand Ninety Eight Only] by subscribing to:
1] 5,52,762 equity shares of Rs. 10 each offered to the Company on rights basis by Hinduja Leyland Finance Limited at a price of Rs. 94 per share (including premium of Rs. 84 per share) as per Letter of Offer dated June 02, 2017, and
2] 3,505 equity shares of Hinduja Leyland Finance Limited renounced in favour of the Company at a price of Rs. 94- per share (including premium of Rs. 84/- per share).
The Companys shareholding after subscription to equity shares offered on rights basis and equity shares renounced will increase to 2,21,13,959 equity shares (as against 2,15,57,692 equity shares) which would be equivalent to 5.23% on the enhanced equity paid up capital of HLFL. The percentage of holding remains unchanged on the enhanced equity paid up capital of HLFL.
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