The company will subscribe to around 24,78,000 fully paid-up equity shares of Rs.10/- each.
“Share Subscription and Shareholders’ Agreement was executed on August 28, 2020, by and between the company, the Investee Company and shareholders of Investee Company to regulate the rights and obligations of the shareholders, inter se and for the internal management of the Investee Company,” the company informed the exchanges on Saturday.
Earlier, Power Purchase Agreement was executed on July 23, 2020 between the Investee Company and the company recording the rights and obligations of both parties with respect to the commissioning of the Captive Power Generation Plant.
SKF India Ltd is currently trading at Rs1,620 down by Rs30.2 or 1.83% from its previous closing of Rs1,650.20 on the BSE.
Source: indiainfoline
