BusinessIndia

Aditya Birla Capital receives DEA approval for investment by Jomei

Mumbai, Feb 24 (GCBusiness) Aditya Birla Capital said that the Department of Economic Affairs (DEA), vide its letter dated February 21, 2020 , has communicated its approval to the Company for foreign investment by Jomei Investments Limited (Jomei) for the purpose of subscription to the preferential issue of the Company, pursuant to which it is proposed to allot 100,000,000 (One Hundred million) fully paid-up Equity Shares, at a price of Rs 100 (Rupees One Hundred only) per Equity Share including a premium of Rs. 90/- (Rupees Ninety only) per Equity Share, for an aggregate consideration of Rs. 10,000 million (Rupees Ten Thousand million only) to Jomei.

With such approval being received, the company has confirmed that all regulatory approvals in relation to preferential allotment of Equity Shares to Jomei have now been received and thus, allotment of Equity Shares to Jomei is proposed to be completed within 15 days from the date of receipt of DEA Approval, company said in a filing with BSE.

Source
Via UNI-India

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