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SUPRAJIT ENGINEERING LTD. - Outcome of Board Meeting
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06 May 2015
Suprajit Engineering Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 06, 2015, has approved the:&lt;BR&gt;&lt;BR&gt;1. Proposal of acquiring 51% to 61.88% in the Equity Capital of Phoenix Lamps Limited, from ARGON INDIA LIMITED, Mauritius &amp; ARGON SOUTH ASIA LIMITED, Mauritius at an agreed price of Rs. 89/- (Rupees Eighty Nine) per share of Rs. 10/- each and signed a Share Purchase Agreement on May 06, 2015.&lt;BR&gt;&lt;BR&gt;2. Open Offer to acquire 72,85,018 shares of Rs. 10/- each aggregating to 26% of the Equity Capital of the Company, at Rs. 100 (Rupees One Hundred) per share.&lt;BR&gt;&lt;BR&gt;3. Appointment of Karvy Investor Services Limited, Category I Merchant Banker, to manage the open offer.&lt;BR&gt;&lt;BR&gt;Phoenix Lamps Limited is the largest manufacturer of Automotive Lamps in India and caters to Indian OEMs, After Market and European Aftermarket segment.
View all announcements for SUPRAJIT ENGINEERING LTD. Source: BSE India