IRM Energy has made an additional investment in Venuka Polymers (VPPL), an associate company of IRM Energy, by acquiring 10,50,800 equity shares of Rs 10 each, through Right Issue. The total subscription made in the Rights issue is Rs 1.05 crore. Consequently, the shareholding of the company in VPPL has increased from 33.33% to 50.00%. The company has reinstated its stake at 50% in VPPL, as part of strategic investment.
Venuka Polymers is engaged in the business of manufacturing, distributing, supplying, micro-Irrigation systems, PVC/MDPE/HDPE/LDPE/LLDPE/PP pipes, tubes, hoses, fittings, etc.
IRM Energy is a gas distribution company. It is involved in developing, operating, and expanding of local natural gas distribution network. IRM Energy is a value-driven energy enterprise serving industrial, commercial, domestic, and automobile customers.
| Company Name | CMP |
|---|---|
| Petronet LNG | 281.85 |
| Bharat Coking Coal | 33.37 |
| Linde India | 7852.75 |
| Refex Industries | 263.85 |
| IRM Energy | 320.35 |
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