Rico Investments Limited becomes 100% subsidiary of Rico Auto Industries Limited

Rico Auto Industries Limited has purchased 12,00,000 equity shares having a face value of Rs.10/- of its Subsidiary Company namely Rico Investments Limited (RIL) from its existing shareholders at a price of Rs.10.00 per share. After this purchase, the Company holds entire (100%) Equity Share Capital of RIL and consequently, RIL has now become a Wholly owned subsidiary of Rico Auto Industries Limited.

RIL is a Core Investment Company incorporated on 07/01/2015 under the Companies Act, 2013. It is engaged in Financing and Investing Activities.

Shares of RICO AUTO INDUSTRIES LTD. was last trading in BSE at Rs.47.15 as compared to the previous close of Rs. 47.7. The total number of shares traded during the day was 66489 in over 647 trades.

The stock hit an intraday high of Rs. 48.8 and intraday low of 46.9. The net turnover during the day was Rs. 3178130.

Source : Equity Bulls

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