Promoters of 64 companies allotted 283.79 million equity shares worth Rs 527.46 crore on preferential basis during the financial year ended March 2003. However, another 55.48 million shares worth Rs 73.98 crore are pending preferential allotments.
While promoters were allotted 180.21 million shares valued at Rs 292.47 crore, strategic investors received 159.06 million shares worth Rs 308.98 crore.
As many as 40 companies allotted the shares at par, while 24 companies issued them at a premium ranging from Rs 2 to Rs 460.
The promoters of Jain Irrigation offered a controlling stake to Aqua India I and Aqua India II by allotting 23.66 million shares, or a 51.40 per cent equity stake, at Rs 87.76 crore.
Harita Finance, a TVS group company that is now called TVS Finance, offered 28.34 million shares at Rs 28.34 crore to group companies TVS Motor and TVS Electronics for a controlling stake in it.
In a move to increase the promoters
