Dynamatic Technologies (DTL) has received approval for the acquisition of 3,50,00,000 equity shares of Rs 10 each aggregating to Rs 35 crore by way of rights issue in Dynamatic Manufacturing (DML), the Wholly Owned Subsidiary of the Company.
The objective is to utilise the proceeds from the issue towards repayment of loans and advances, including trade advances, capital expenditure and general corporate purposes. On completion of the said acquisition, DTL’s shareholding in DML will increase to 97.18% and balance 2.82% will continue to be held by JKM Erla Automotive being wholly owned subsidiary of DTL. The Board of Directors of the company, at its meeting held on March 22, 2024, has approved the same.
Dynamatic Technologies is the largest producer of Hydraulic Gear Pumps in Asia and one of the top five worldwide. The company designs and builds highly engineered products for Automotive, Aeronautic, Hydraulic and Security applications.
| Company Name | CMP |
|---|---|
| Kirloskar Brothers | 1704.75 |
| KSB | 976.55 |
| Shakti Pumps (I) | 555.35 |
| Elgi Equipments | 561.20 |
| Kirloskar Pneumatic | 1326.90 |
| View more.. | |
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