Stocks

Hindustan Motors promoters hike stake to 32.19%

Our Bureau Kolkata | Updated on November 14, 2017 Published on March 19, 2012




Four CK Birla group entities have picked up 1.18 crore fresh shares (of Rs 5 each) of financially troubled automaker Hindistan Motors at a premium of Rs 7.25 a share.

Central India Industries, Ajmer Investments (Delhi), Bengal Rubber Co and Hindusthan Discounting Co jointly were allotted the shares on preferential basis on March 12, a company disclosure to stock exchanges said on Monday.

After the issue, shareholding of the promoters has gone up and stands at 32.19 per cent of the enhanced capital from 27.22 per cent earlier.

The entities would also be issued 1.18 crore warrants. The shareholders on March 7 had approved the proposals.

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Published on March 19, 2012
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