CG Power and Industrial Solutions’ board has approved a proposal to allot 1.38 crore shares for Rs 101.20 crore to Standard Chartered Bank (Singapore) on a preferential basis for settlement of liability toward the latter.
The board has approved the issuance and allotment of 1,38,45,000 shares of the company of face value of Rs 2 each on preferential basis at a price of Rs 73.10, including premium of Rs 71.10 per equity share, aggregating to Rs 1,01,20,69,500 for consideration other than cash.
CG Power and Industrial Solutions (formerly Crompton Greaves) is a global pioneering leader in the management and application of electrical energy. CG provides end-to-end solutions that meet all electrical needs of its customers. CG’s offerings include electrical products, systems and services for utilities, power generation and industries.
