Suprajit Engineering has informed that the Board of Directors of the Company at its meeting held on May 06, 2015, has approved the Proposal of acquiring 51% to 61.88% in the Equity Capital of Phoenix Lamps, from ARGON INDIA, Mauritius & ARGON SOUTH ASIA , Mauritius at an agreed price of Rs 89 per share of Rs. 10 each and signed a Share Purchase Agreement on May 06, 2015, Open Offer to acquire 72, 85,018 share of Rs. 10 each aggregating to 26% of the Equity Capital of the Company, at Rs. 100 per share, Appointment of Karvy Investor Services, Category I Merchant Banker, to manage the open offer and Phoenix Lamps is the largest manufacturer of Automotive Lamps in India and caters to Indian OEMs, After Market and European Aftermarket segment.
The above information is a part of company’s filings submitted to BSE.
