Pennar Industries has received an approval to increase the aggregated ceiling limit under the Portfolio Investment Scheme by SEBI registered Foreign Institutional Investors (FII’s)/ SEBI approved sub accounts of FII’s from 24% to 35% in the paid-up share capital of the company. The board of directors at its meeting held on May 07, 2014 has approved for the same.
The above is however subject to the approval of members at the ensuing Annual General Meeting, and such other approvals as may be required from time to time.
Pennar Industries is engaged in the manufacturing of Cold Rolled Steel Strips (CRSS) and value-added products under Cold Rolled Formed Sections (CRFS) like precision tubes, engineered components, road safety systems, parts of railway coaches and Electro Static Precipitators (ESP).
