Promoters to hike stake in Aditya Birla Nuvo

Published on Wed, Jan 09, 2008 at 08:42 |  Source : Business Line

Updated at Wed, Jan 09, 2008 at 09:01  

10295 Investors following AdityaBirlaNuvo. Share this News with them.
0
0
Share on Tumblr

RELATED NEWS

ALSO READ

Mumbai, Jan. 8

The Aditya Birla group proposes to increase its stake in Aditya Birla Nuvo to 51 per cent through a preferential issue of shares to the promoters.

Currently, the promoters hold a 39.07 per cent stake in the company.

The company board meets tomorrow to consider a proposal to issue convertible warrants on a preferential basis to the promoters, it said in a notice to the stock exchanges. The notice did not specify the size of the preferential issue or the conversion price of the warrants.

However, sources close to the company said that the preferential issue is expected to ultimately raise the promoters' stake in the company to 51 per cent.

The company's shares closed at Rs 2,131.75 on the BSE, down by 3.23 per cent from the previous close.

Taken from Business Line

thehindubusinessline.in

  

More on Moneycontrol

Trending News

Business News

Report hints at prototypes of the iTV in carriers' labs
Memo to FM: Ignore critics; this is the time to spend better "Memo to FM: Ignore critics; this is the time to spend better "

CBI To Request Malaysian Govt To Interrogate Owner Of Maxis Grp

The latest earning numbers FIRST on CNBC-TV18
Videos

Feb 8 2012, 13:30

India`s in a sweet spot now, says Credit Suisse

- in FII View

Feb 8 2012, 10:28

Multibagger ideas: India Glycol, TTK Healthcare

- in MARKET OUTLOOK

Interviews

Feb 8 2012, 12:46 | Source: CNBC-TV18

Tutorial business is doing well: Career Point  

Feb 8 2012, 11:01 | Source: CNBC-TV18

OMCs aiding airlines in ATF import unreasonable: BPCL  

Subscribe to

Moneycontrol Newsletters

Moneycontrol.com offers you a choice of various sectoral and other newsletters for FREE!

Follow moneycontrol.com