Hindustan Motors’ four promoter group firms have increased their stake in the company to 32.19% by picking up an additional 6.82% stake through preferential allotment.
Promoter group firms, Central India Industries, Amer Investments (Delhi), Bengal Rubber Co and Hindustan Discounting Co have together acquired 11.8 million shares of the company on March 12, 2012. The mode of acquisition is through preferential allotment.
Hindustan Motors (HML), India’s pioneering automobile manufacturing company manufactures passenger cars, Multi Utility Vehicles and RTV. It also manufactures passenger cars in the mid size premium segment (Mitsubishi Lancer, Lancer Select, and Lancer Cedia) and has brought the Sports Utility Vehicle (Mitsubishi Pajero) into the Indian market, in collaboration with Mitsubishi Motors of Japan.
