With reference to raising of the FDI limit in defence sector to 74%, GOCL Corporation announced that it has received communication from Hinduja Capital, Mauritius (Promoters of the company), whose shareholding in the company is considered as foreign direct investment, about their plans to reduce the shareholding in the company by about 1.10% (from 74.93% to 73.83%) by sale of requisite number of shares in the open market. This will enable the company to take up and expand its business in the defence sector in line with the recent announcement of the Govt. of India.
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