L.G.Balakrishnan & Bros has informed that the Board has approved to make a strategic investment in Greenerg Mobility Solutions by subscribing to equity shares having a face value of Rs 10 each equivalent to 14.92% of the post-investment paid-up share capital for the aggregate consideration not exceeding Rs.6.00 Crores and subscribing to Secured Optionally Convertible Debentures for an aggregate nominal value not exceeding Rs 6.00 Crores in one or more tranches. Further, the Board has approved for entering into the Share Subscription and Shareholders Agreement and the Debenture Subscription Agreement to regulate the rights and obligations and management of the Investee Company.
The above information is a part of company’s filings submitted to BSE.