In the rights issue, the participation of TSL will be to the extent of its entitlement i.e. 2,85,271 shares for a consideration of nearly Rs3.5cr.
In its regulatory filing, TVS Srichakra said that simultaneously, TVS Srichakra Investments Limited (TVSSIL) will be participating in the Rights Issue offered by its wholly-owned subsidiary TVS Sensing Solutions Private Limited (formerly ZF Electronics TVS India Private Limited) to the extent of its entitlement, i.e. 339805 shares for a consideration of nearly Rs3.5cr.
Further, as per the TSL filing, in turn, TVS Sensing Solutions will be participating in Compulsorily Convertible Preference shares to the extent of 350,000 shares at RS.100/- each in Fiber Optic Sensing Solutions Private Limited, a subsidiary of TVS Sensing Solutions.
At around 12.25 pm, TSL was trading at Rs2190 per piece down Rs13.15 or 0.60% on Sensex. The stock has touched an intraday high and low of Rs2224.80 per piece and Rs2181.35 per piece respectively.