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| Exchange Received Time 07/06/2018 16:28:25 Exchange Disseminated Time 07/06/2018 16:28:32 Time Taken 00:00:07 | Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please be informed that Electrosteel Steels Limited (ESL) had vide intimation dated 6 June 2018 informed the exchange that ESL has issued and allotted 7,39,91,32,055 equity shares of INR 10 each on a preferential/private placement basis to financial creditors of the ESL.
The investment of the Company in ESL is 1,08,98,00,000 equity shares of face value of INR 10 each. Post the conversion of loan by ESL, the stake of the Company in ESL stands reduced from 45.23% to 11.11% of the paid up share capital of ESL.
Consequent to the above, ESL ceased to be an associate of the Company.
This is for your information and records.
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