Titan Biotech is all set to acquire 33,90,510 partly paid up equity shares of Rs 24 each at par aggregating to Rs 8.13 crore out of which Rs 2.03 crore will be paid on application (only application) by way of subscribing to the rights issue of Titan Media (Investee Company).
In this regard, the Company is all set to acquire equity shares equivalent to voting rights of 64.58% of the total issued and paid up share capital of the Investee Company whenever the Investee Company will make a further calls on the said issue.
The company stake in Investee Company will increase in proportionally on each call. Currently, the Company will pay the 25% on application (Tranches 1) amount and rest will be paid on further calls of the said issue.
Titan Biotech is one of the leading manufacturers & exporters of the biological products used in the field of Pharmaceutical, Nutraceutical, Food & Beverages, Biotechnology & Fermentation etc.
