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| Exchange Disseminated Time 31/03/2016 17:08:49 | With reference to the earlier letter dated December 25, 2015, Tube Investments of India Ltd has now informed BSE that upon receipt of necessary regulatory approval, the divestment of 4,18,32,798 equity shares of the face value of Rs.10/- each of Chola MS by the Company in favour of MSI, Japan, for an aggregate consideration of Rs. 882.67 Crores (@Rs. 211/- per share) has been completed on March 31, 2016.
Consequently, the Company’s shareholding in Chola MS stands reduced to about 60% from about 74% and MSI, Japan’s shareholding in Chola MS has increased correspondingly from 26% to 40%. |
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