Mawana Sugars gets nod to invest Rs 10 crore in Siel Industrial Estate

08 Mar 2021

Mawana Sugars’ board has approved an investment up to Rs 10 crore in Siel Industrial Estate (Siel IE), subsidiary of the company, by way of subscription of 1,00,00,000 Optionally Convertible Cumulative Preference Shares (OCCPS) of Rs 10 each to be issued by Siel IE in one or more tranches as and when requested by Siel IE to the company instead of making any investment in Redeemable Cumulative Preference Shares (RCPS) as decided in the meeting of the Board of Directors dated February 25, 2021. The overall investment by the company in Siel IE shall remain unchanged at Rs 10 crore. The Board of Directors of the company in its meeting held on March 6, 2021, has approved the same.

Mawana Sugars has been engaged in the business of manufacture and selling of chemicals ,sugar and edible oils.

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