Automotive Stampings and Assemblies successfully concludes the right issues

Automotive Stampings and Assemblies has successfully concluded the right issues with a size worth Rs 2946.24 crore. The company which opened the right issue on June 20,2011 and closed the same on July 8, 2011 has issued equity shares to shareholders on rights basis in the ratio of 5 shares for every 9 shares held, at an issue price of Rs 52 per share.

The Board of Directors, in meeting held on July 21, 2011, inter alia, took on record the Statement of Basis of Allotment finalized in consultation with and approved by the Stock Exchange on July 21, 2011. Based on the said basis of Allotment, the board of directors allotted 56,65,856 equity shares of face value of Rs 10 each at a premium of Rs 42 per share. Post-allotment, the Promoter of the Company, Tata Auto Comp Systems, continues to hold 75% of the post-issue paid up equity share capital..