CG Power to seek shareholders’ nod for preferential allotment of shares to Standard Chartered Bank

15 May 2021 Evaluate

CG Power and Industrial Solutions is going to seek shareholder approval to allot 1.38 crore shares for Rs 101.20 crore to Standard Chartered Bank on a preferential basis to settle liability in an extra-ordinary general meeting on June 7. Earlier this week, the board of directors of the company had approved the proposal for the issuance and allotment of 1,38,45,000 shares of the company of face value of Rs 2 each on a preferential basis at a price of Rs 73.10, including a 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.

CG Power & Indl.Soln Share Price

539.95 -8.70 (-1.59%)
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Company Name CMP
Siemens 5230.00
Havells India 1522.45
Apar Inds 6986.80
ABB India 6350.00
CG Power & Indl.Soln 539.95
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