On subscription to rights issue of Khed Economic Infrastructure
Bharat Forge announced that the Company has subscribed to the equity shares and got allotment pursuant to the Rights Issue of 1,73,16,308 equity shares of Rs. 10/- each fully paid-up made by Khed Economic Infrastructure ('KEIPL'). The Company, prior to the said right issue, was holding 5% of the paid up equity share capital of KEIPL. Considering future business initiatives of the Company, the Company had subscribed to the additional 1,59,11,782 equity shares of Rs. 10/- each fully paid up in the said rights issue over and above its rights entitlement. Consequent to this subscription to the rights issue, Company's shareholding in KEIPL has increased from 5% to 8.54%.Powered by Capital Market - Live News