From 74% to 60%
Tube Investments of India announced that upon receipt of necessary regulatory approval, the divestment of 4,18,32,798 equity shares of the face value of Rs.10/- each of Chola MS by the Company in favour of MSI, Japan, for an aggregate consideration of Rs. 882.67 crore (@Rs. 211/- per share) has been completed on 31 March 2016.Consequently, the Company's shareholding in Chola MS stands reduced to about 60% from about 74% and MSI, Japan's shareholding in Chola MS has increased correspondingly from 26% to 40%.
Powered by Capital Market - Live News
