Paras Defence will hold a 30 % stake in the venture, while CONTROP will hold the remaining 70%.
Net sales for the quarter rose by 15.1% YoY, reaching Rs.138.10 crore
The company witnessed a 1% dip in may month sales
TVS Motor Company reported a 9% increase in sales in May
The company further highlighted that it has received these orders from State Government Agencies.
Trafigura Group, a commodity trading firm, has provided $200 million in funding for VRL, while Glencore International AG, a mining and natural resource corporation, has provided $250 million.
The government announced that from June 1 subsidy will be reduced to 15%.
The company aims to strengthen its position in the premium TV segment with these new offerings.
The BVs, both corporate and individual, would have the authority to carry out tasks such as gathering proposal data, KYC documents, and organising services linked to claims.
According to Aditya Birla Capital Ltd., the preferential issuance would take place at a cost of Rs 165.1 per equity share and is pending approval from shareholders.