Hinduja Ventures has received its board's approval for making an aggregate investment of around Rs 52.3 million by subscribing to 5,52,762 equity shares of Rs 10 each offered to the company on rights basis by Hinduja Leyland Finance at a price of Rs 94 a share (including premium of Rs 84 per share) as per Letter of Offer dated June 02, 2017; and 3,505 equity shares of Hinduja Leyland Finance renounced in favour of the company at a price of Rs 94 a share (including premium of Rs 84 per share).
The company's shareholding after subscription to equity shares offered on rights basis and equity shares renounced will increase to 2,21,13,959 equity shares, as against 2,15,57,692 equity shares which would be equivalent to 5.23% on the enhanced equity paid up capital of Hinduja Leyland Finance. The percentage of holding remains unchanged on the enhanced equity paid up capital of Hinduja Leyland Finance.
Shares of the company declined Rs 6.25, or 1.34%, to trade at Rs 461.25. The total volume of shares traded was 480 at the BSE (3.17 p.m., Wednesday).