Hindustan Adhesives Ltd invests in Bagla Technopack Pvt Ltd

Hindustan Adhesives Ltd has made an investment of Rs. 1,37,00,000 (One Crore and Thirty Seven Lacs Only) by acquiring shares of 13,70,000 (Thirteen Lacs and Seventy Thousand) i.e. 55.02% in the Right Issue of Bagla Technopack Private limited. Earlier the company has made an investment of Rs. 10,00,000 (Ten Lacs Only) by acquiring shares of 1,00,000 (One Lac) i.e. 19.61% in the Right Issue of Bagla Technopack Private limited.

Further the total investment made by the Company till date in Bagla Technopack private limited is Rs. 1,47,00,000 (taking into consideration with earlier investments) by acquiring 14,70,000 equity shares constituting 49% of total paid up share capital, pursuant to Section 186 and any other applicable provisions of the Companies Act, 2013 read with the Rules thereunder (including any statutory modifications or re-enactment thereof, for the time being in force).

Further the Total Investment made by Hindustan Adhesives Limited in the Equity Shares of Bagla Technopack Private Limited has been increased from 19.61% to 49% which makes the Bagla Technopack private Limited the Associate Company of Hindustan Adhesives Limited.

Shares of HINDUSTAN ADHESIVES LTD. was last trading in BSE at Rs. 199.10 as compared to the previous close of Rs. 200.20. The total number of shares traded during the day was 3508 in over 127 trades.

The stock hit an intraday high of Rs. 207.00 and intraday low of 194.25. The net turnover during the day was Rs. 701853.00.

Source : Equity Bulls

Keywords

HINDUSTANADHESIVES INE074C01013 Investment BaglaTechnopack