Revathi CP Equipment becomes subsidiary of Utkal Investments
Revathi CP Equipment Ltd has informed BSE that it has become the subsidiary of Utkal Investments Ltd, as Utkal Investments is holding more than 50% in the share capital of the company. Revathi CP Equipment to invest in the preference shares of Renaissance Asset Management Co
Revathi-CP Equipment Ltd has informed BSE that the Board of Directors of the Company at their meeting held on November 23, 2002 has decided to invest Rs 89.50 million in the Preference Shares of Renaissance Asset Management Company Private Ltd. Utkal Invt makes open offer to acquire 20% stake in Revathi Equipment at Rs 234
Utkal Investments Ltd (UIL) has entered into a share purchase agreement dated April 21, 2002 with Atlas Copco India Ltd (AC) and Chicago Pneumatic Tool Company USA (CP), the promoters for the purchase of 12,80,200 fully paid up equity shares of Rs 10/- each representing 39.88% of the total paid up equity share capital of the Revathi CP Equipment Ltd (REL) at a price of Rs 234/- per share payable in cash aggregating to Rs 29,95,66,800/-....