Responsive Industries Limited to increase stake in subsidiary to 89.86%

The Board of Directors of Responsive Industries Limited at its meeting held on Thursday, February 25, 2021 has approved investment in its Indian subsidiary company Axiom Cordages Limited through purchase of its 104,18,162 no of equity shares in aggregate from Banyantree Growth Capital, LLC (BTC) and Nederlandse Financierings Maatschappij Voor Ontwikkelingslanden N.V (FMO) held by them in Axiom Cordages Limited, India. The pre shareholding of the Company is 58.18% of the total paid up capital and the post shareholding after purchase is 89.86% of the total paid up capital.

Shares of RESPONSIVE INDUSTRIES LTD. was last trading in BSE at Rs.179.05 as compared to the previous close of Rs. 173.95. The total number of shares traded during the day was 3859 in over 92 trades.

The stock hit an intraday high of Rs. 181.15 and intraday low of 175.1. The net turnover during the day was Rs. 684652.

Source : Equity Bulls

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