|
| Exchange Received Time 25/09/2018 17:43:37 Exchange Disseminated Time 25/09/2018 17:43:45 Time Taken 00:00:08 | We wish to inform that the Board of Directors of the company in their meeting held today i.e. 25 September, 2018, has also approved the following: -
Setting up a 2 Wheeler Alloy Wheel Plant.
Board approved the investment for setting up a new manufacturing plant of 2 Wheeler Alloy Wheel in Maharashtra, for supplies to OEMs.
The outlay of the Project is approved for Rs. 500 Crore, which will be completed in two phases. In the first phase, Rs. 300 Crore will be undertaken within two years and thereafter the second phase will be undertaken. The start of production is expected from November, 2019.
Pursuant to the Regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI Circular # CIR/CFD/CMD/4/2015 dated 9 September, 2015, the requisite details against the aforesaid matter is attached as Annexure-I, to this letter.
|
|
|