Weizmann has received an approval for purchase of 3,00,000 10% Non-Convertible Non-Cumulative Preference Shares (NCNCPS) of Rs 100 each from Tapi Energy Projects (TEPL), upon terms and conditions agreed between the company and TEPL. The sub-committee of the company at its meeting held on June 13, 2017 has approved for the same.
TEPL is a RBI registered Non Banking Finance Company. The business of TEPL is Borrowing & Lending and Investment in Securities.
Weizmann is a holding company engaged in textile processing. The company is also engaged in job works and financial service activities. The company’s segments include Textiles and Finance.
Shares of the company declined Rs 1, or 2.38%, to settle at Rs 41.00 at the BSE (Monday).