To allot 10 crore equity shares for Rs 1000 crore to Jomei
Aditya Birla Capital announced that the Department of Economic Affairs, vide its letter dated 21 February 2020 (DEA Approval), has communicated its approval to the Company for foreign investment by Jomei Investments (Jomei) for the purpose of subscription to the preferential issue of the Company, pursuant to which it is proposed to allot 10 crore fully paid-up equity shares, at a price of Rs. 100 per equity shares including a premium of Rs. 90 per equity shares, for an aggregate consideration of Rs. 1000 crore to Jomei.With this, the company has received all regulatory approvals in relation to the preferential allotment of equity shares to Jomei. The allotment of equity shares will be completed within 15 days from receipt of DEA approval.
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