Suumaya Industries to subscribe 3.1cr CCDs from subsidiary Suumaya Retail

The proposed investment of Rs31cr will not result in a change in the shareholding and/or control of the company over Suumaya Retail Limited.

May 06, 2021 04:05 IST India Infoline News Service

Acquisition Concept
Suumaya Industries Limited after a meeting of the Committee of Borrowing Investment Loans and Guarantees (BICM) on Wednesday, intends to invest surplus fund of the company by way of subscribing up to 3.1cr Zero Coupon Compulsorily Convertible Debentures (CCDs) of Rs10 each issued by Suumaya Retail Limited (SRL), a wholly-owned subsidiary of the company at par on rights basis.

The proposed investment of Rs31cr will not result in change in the shareholding 

Suumaya Industries Limited on THursday ended at Rs296.35 per piece up Rs14.10 or 5.00% on the NSE.

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