With effect from 02 September 2015
Cholamandalam Investment & Finance Company announced that consequent to the conversion of 5,00,00,000 1% Compulsorily convertible preference shares (CCPS) of Rs.100/- each into 1,22,85,012 equity shares of Rs.10/- each at a conversion price of Rs. 407 per equity share, although the number of shares held by M/s. Tube Investments of India (TII) remains the same at 7,22,33,019 equity shares, there has been a reduction in the percentage of shares held by TII from 50.24% to 46.28% post allotment. Accordingly, the Company ceased to be a subsidiary of TII with effect from 02 September 2015.Powered by Capital Market - Live News