Escorts informs about outcome of board meeting

Escorts Kubota Ltd. | Automobiles-Tractors | Automobiles | BSE: 500495 | NSE: ESCORTS

18 Nov 2021 Evaluate

Escorts has informed that at the meeting of the Board of Directors (Board) of the Company held today, November 18, 2021, the Board has approved the preferential Issue of equity shares to Kubota Corporation, Japan. Subject to receipt of requisite statutory and regulatory approvals including approval of the shareholders of the Company, the Board has approved the raising of equity capital aggregating to Rs 18,72,74,52,000 through preferential issue of 93,63,726 equity shares (Proposed Issue) of face value Rs 10 at Rs 2,000 per share (including a premium of INR 1,990 for each equity share), to Kubota Corporation, Japan, a company incorporated under the laws of Japan (Investor), subject to compliance with applicable pricing regulations and in accordance with the provisions of Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (SEBI ICDR Regulations) and applicable provisions of the Companies Act, 2013 and rules made thereunder (Companies Act). The information in connection with the Proposed Issue, pursuant to the disclosures as required under Regulation 30 of the SEBI Listing Regulations read with the Securities and Exchange Board of India Circular (CLR/ FD/CMD/4/2015) dated September 9, 2015 (SEBI Circular), is enclosed as Annexure A; With regard to the Proposed Issue, the Board accorded approval for the execution of: a share subscription agreement (SSA) among the Investor, the Company, Escorts Benefit and Welfare Trust (EBWT), and Specified Promoters (as defined in the SSA and detailed in Annexure B), and a shareholders’ agreement among the Investor, the Company, EBWT and the Specified Promoters (SHA). Subsequently, they have executed the said SSA and SHA on November 18, 2021, and other ancillary agreements in this regard. The Proposed Issue is subject to customary conditions precedent, including the approval and adoption of the restated and amended articles of association of the Company, increase in the limit on the maximum number of directors on the Board, and receipt of necessary regulatory approvals.

The above information is a part of company’s filings submitted to BSE.

Escorts Kubota Share Price

2945.00 -5.15 (-0.17%)

03-Jul-2026 11:01 View Price Chart

Peers

Company Name	CMP
Escorts Kubota	2945.00
VST Tillers Tractors	4568.20
Indo Farm Equipments	165.00
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