Jost's Engineering Company Ltd to invest in MHE Rentals India Pvt Ltd

The Board of Directors of Jost's Engineering Company Limited at their meeting held on Monday, 27th March, 2023, had approved the investment by way of purchase of 39,73,800 Equity Shares of MHE Rentals India Private Limited ("MHE Rentals"), a Subsidiary Company, from the existing shareholders, in more than one tranche, at a price arrived by the Registered Valuer, consequent to the completion of which MHE Rentals will become Wholly Owned Subsidiary of the Company.

Out of the approved investment by way of purchase of 39,73,800 Equity Shares of MHE Rentals, the Company has purchased 19,86,900 Equity shares of MHE Rentals on 29th March, 2023 at Rs. 17.30 per share from the existing shareholders of MHE Rentals i.e. 752,750 Equity shares from Mr. Jai Prakash Agarwal and 240,250 Equity shares from Mr. Rajendra Kumar Agarwal and 9,93,900 Equity shares from Mr. Vishal Jain.

Source : Equity Bulls

Keywords

JostsEngineeringCompany Investment MHERentalsIndia