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19 April, 2021 12:01 IST
VST Tillers Tractors to invest in Zimeno Inc
Source: IRIS | 05 Mar, 2021, 09.36AM
Rating: NAN / 5 stars.
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 V S T Tillers Tractors has entered into a share purchase agreement for investment in Series A Preferred Stock of Zimeno Inc. The investee company is in the development of Electric Autonomous Tractor.

The investment will be USD 1500000 (Equivalent to Rs. 110715000) in Series A preferred Stock of the Investee Company.

There will be no nominee in the board of directors of the listed entity and no potential conflict of interest arising out of the agreement.

After allotment of Series A preferred Stock, shareholding in the Investee Company will be about 2% on fully diluted basis.

Zimeno Inc (Investee Company), an unlisted Company incorporated in the United States of America (USA).

 Shares of the company gained Rs 42.95, or 2.25%, to settle at  Rs 1,952.90.  The total volume of shares traded  was  3,810 at the BSE (Thursday).

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