Bilpower acquires 30999 shares of Tarapur Transformers Pvt Ltd

Bilpower Ltd has announced that, in accordance with the authority given pursuant to the meeting of the Board of Directors of the Company held on November 18, 2006, the Company has acquired 30999 equity shares of Rs 100/- each at a premium of Rs 1000 per share of Tarapur Transformers Pvt Ltd at a total consideration aggregating to Rs 3,40,98,900/- and have completed the required formalities in this regard.

Further the Company has informed that, the Company has further financed M/s. Tarapur Transformers Pvt Ltd with an amount of Rs 4.95 crore (approx) in accordance with the authority accorded in the Board Meeting.

Source : Equity Bulls

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