Kirloskar Brothers Investments acquires 3.78% stake in KOEL

Kirloskar Brothers Investments has acquired 3.78% stake in Kirloskar Oil Engines (KOEL) from promoters of the company through Interse transfer of shares amongst the Group through market. With this acquisition, the company's holding in KOEL has gone up from 38.06% to 41.84%.

Further, Kirloskar Brothers Investments wholly owned subsidiary - Pooja Credits (PCPL) holds 8.76% in KOEL. PCPL has filed a petition before the High Court of Bombay for the approval of amalgamation of PCPL with Kirloskar Brother Investments (KBIL).

Besides, Kirloskar Brothers Investments has acquired 15.18% stake in Kirloskar Pneumatic Company (KPC) from promoters of the company through Interse transfer of shares amongst the Group through market. The company’s holding in KPC has gone up from 35.40% to 50.58%. Accordingly, KPC has become a subsidiary of the company.

Kirloskar Brothers Investments operates as an investment company in India. It involves in buying, selling, investing, and acquiring by gift, transfer, and allotment, as well as holding in its name shares, stock, papers, debenture stocks, bonds, commercial papers, obligations, and securities of any kind issued and/or guaranteed by Kirloskar Group Companies and/or their affiliates under any scheme of arrangement/merger/demerger or under any court order or by way of transfer and allotment.