Sundram Fasteners Ltd has acquired 16,80,000 equity shares 24% of Rs 10/- each from Bleistahl Produktions GmbH & Co. KG Bleistahl, in the share capital of Sundram Precision Components Limited SPCL [Formerly Sundram Bleistahl Limited], a subsidiary of the Company.
The Company has acquired the above mentioned equity shares from Bleistahl in SPCL for a cash consideration at Rs 31.45 per share. The pricing for shares conforms to the valuation norms prescribed under Foreign Exchange Management Act, 1999. The acquisition / transfer of shares was completed on March 27, 2017.
via Sundram Fasteners Ltd ups stake in Sundram Precision Components Limited to 100% – EquityBulls.com.