Bajaj Holdings & Investment Ltd. - Announcement under Regulation 30 (LODR)-Acquisition

| Updated on June 17, 2019 Published on June 17, 2019

This is to inform you that the Company has on 17 June 2019 got the credit of 27% stake in Maharashtra Scooters Limited (MSL) with the transfer of 30,85,712 equity shares by Western Maharashtra Development Corporation Limited (WMDC}, pursuant to the Supreme Court Order dated 9 January 2019, about which intimations were sent to the Stock Exchanges on 17 January 2019 and 15 February 2019 respectively under the SEBI (SAST) Regulations, 2011.

The total consideration paid by the Company to WMDC with respect to the said acquisition was Rs. 2,224,810,323/- at the price stipulated by the Supreme Court order (i.e. Rs. 232/- per share along with interest @18% p.a. from the date of award i.e. 14 January 2006 up to the date of payment effected on 14 January 2019} [net of TDS].

Consequent upon the acquisition of 27% stake of MSL from WMDC, the Company holds 51% shareholding in MSL. MSL has hence become a subsidiary of the Company now.

The disclosure in terms of Regulation 30 of the SEBI LODR Regulations is given in the annexure.

A copy of the draft press release is attached by way of ready reference.

Kindly take the above on record.

Pdf Link: Bajaj Holdings & Investment Ltd. - Announcement under Regulation 30 (LODR)-Acquisition

Source : BSE - www.bseindia.com

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Published on June 17, 2019
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