Hinduja Ventures raises stake in Hinduja Leyland Finance
Hinduja Ventures today said it has marginally raised its stake in Hinduja Leyland Finance by buying additional shares at estimated cost of Rs 20 crore.
"...we wish to inform you that the company has entered into a share purchase and shareholders agreement dated November 15, 2017 with Everfin Holdings, shareholder of HLFL, for acquisition of 18,73,917 equity shares of Rs 10 each constituting 0.43 per cent in the paid-up share capital of HLFL at a price of Rs 110 per share," the company said in a regulatory filing.
Hinduja Ventures held 2,29,08,626 equity shares of Rs 10 each constituting 5.23 per cent of the equity paid up capital HLFL at an average price of Rs 20.19 per share.
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"Consequent to the above (share purchase), the company's (Hinduja Ventures) shareholding in HLFL will increase from 5.23 per cent to 5.66 per cent at an average price of Rs 26.98 per share," the filing said.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)