NELCO Ltd to invest in Piscis Networks Pvt Ltd

Pursuant to the approval of the Board of Directors, NELCO Ltd has entered into the Agreement(s) with the Promoters and other Shareholders of Piscis Networks Private Limited on 5th June 2023 for an initial investment of Rs. 99,99,100 (Rupees ninety-nine lacs ninety-nine thousand and one hundred only) to subscribe 1,111 equity shares of Rs.10/- each representing 9.09% of the paid-up capital of Piscis Networks Private Limited, and subsequently to make further investment to increase the Company's shareholding upto alteast 30% of the paid-up capital of Piscis Networks Private Limited. This shall be subject to approvals and consents as may be required under applicable law.

Thacker & Associates acted as transaction advisors on this investment.

Shares of NELCO Limited was last trading in BSE at Rs. 634.50 as compared to the previous close of Rs. 618.90. The total number of shares traded during the day was 10698 in over 704 trades.

The stock hit an intraday high of Rs. 639.85 and intraday low of 623.85. The net turnover during the day was Rs. 6790517.00.

Source : Equity Bulls

Keywords

NELCO INE045B01015 Investment PiscisNetworks