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| Exchange Disseminated Time 31/12/2015 16:09:07 | Orient Green Power Company Ltd has informed BSE that the Board of Directors of M/s. Pallavi Power & Mines Limited (Pallavi), a subsidiary of Orient Green Power Company Limited (OGPL) at its Board Meeting approved and allotted 2,10,000 Equity Shares of Rs. 100/- each to OGPL and 6,42,240 equity shares of Rs. 100/- each to M/s. Shalivahana Green Energy Limited (JV Partner). Consequent to the allotment of aforesaid shares, the Equity holding of OGPL in Pallavi has been reduced from 51% to 38.87%.
By virtue of reduction in the percentage of OGPL holding by less than 51% in Pallavi, the status of Pallavi will be changed from Subsidiary to Associate Company. |
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