Chettinad Cement promoters hike stake to 94.48%
Promoters of Chettinad Cement Corporation have increased their stake in the firm by 6.04 per cent to take it to 94.48 per cent.
By PTI |
NEW DELHI: Promoters of Chettinad Cement Corporation have increased their stake in the firm by 6.04 per cent to take it to 94.48 per cent.
The Chennai-based company's promoters had 88.44 per cent stake prior to the fresh acquisition of shares done through a delisting offer, the company said in a stock exchange filing today.
Following the transaction, held on March 27, promoters have 94.48 per cent stake or 360,89,279 shares in the company.
In a separate filing, Chettinad Cement Corporation said those new shares (23,06,702) were acquired by Chettinad Holdings for Rs 166.08 crore at Rs 720 apiece.
The company said Chettinad Holdings had no stake in the company before the transaction.
Shares of the company today settled at Rs 695 apiece, down 0.43 per cent over the previous closing in the BSE.
The Chennai-based company's promoters had 88.44 per cent stake prior to the fresh acquisition of shares done through a delisting offer, the company said in a stock exchange filing today.
Following the transaction, held on March 27, promoters have 94.48 per cent stake or 360,89,279 shares in the company.
In a separate filing, Chettinad Cement Corporation said those new shares (23,06,702) were acquired by Chettinad Holdings for Rs 166.08 crore at Rs 720 apiece.
The company said Chettinad Holdings had no stake in the company before the transaction.
Shares of the company today settled at Rs 695 apiece, down 0.43 per cent over the previous closing in the BSE.
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