Isgec Heavy Engineering has received approval for additional equity infusion up to Rs.255 lakh in the equity capital of Isgec Titan Metal Fabricators, joint venture and subsidiary of the company, in order to meet the funds requirement for expansion of manufacturing facility. The said transaction is expected to be completed upto March 31, 2023.
Isgec Titan will continue to be a joint venture and subsidiary of the company. Post allotment, percentage of shareholding of the company in Isgec Titan will remain the same i.e, 51%. The Board of Directors of the company at its Meeting held on November 14, 2023 has inter-alia, considered and approved the same.
Isgec Heavy Engineering is a multi-product, multi-location public company that has been providing engineering solutions to customers around the world for the past many years.
