Aditya Birla Nuvo subsidiary Transworks allots 2753333 equity shares to RHCP TXW Investment Inc

Aditya Birla Nuvo Ltd has announced that the Board of Directors of Transworks Information Services Ltd (Transworks), a wholly owned subsidiary of the Company in its meeting held on September 20, 2006 has, pursuant to the Share Subscription Agreement dated September 07, 2006 between RHCP TXW Investment Inc. (RHCP) and TransWorks, allotted 27,53,333 equity shares of Re 1/- each to RHCP (representing 11.72% of share capital of TransWorks).

Consequent to the above, the shareholding of the Company in TransWorks is reduced from 100% to 88.28%. Accordingly, Transworks has ceased to be a wholly owned subsidiary of the Company.

Source : Equity Bulls

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