Ircon International Ltd - Equity Investment In Wholly Owned Subsidiary

lrcon Davanagere Haveri Limited (lrconDHHL) is a wholly owned subsidiary (WOS) of the lrcon International Limited (the Company). The Board of Directors of the Company at its meeting held on 8th November, 2017 has approved an equity investment upto Rs.217.05 crore in lrconDHHL. The Company had already made an investment of Rs.54.05 crore in lrconDHHL.

Pursuant to the aforesaid Board approval, the Company has now made an investment of Rs.50 crore (i.e in 5 crore equity shares of Rs.1 0/- each) in lrconDHHL by way of right issue. As on date, the total investment made by the Company in lrconDHHL is Rs.1 04.05 crore.

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Source : BSE - www.bseindia.com

Published on October 24, 2018
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