Power utility company Kalpataru Power Transmission Ltd said it will buy 20% stake in its subsidiary company JMC Projects (India) Ltd, at Rs207 a share, in cash.
Kalpataru Power proposes to buy 52.8 lakh shares representing 20.2% of the post preferential issue paid up capital consisting of 20% of the emerging voting capital of JMC Projects, Kalpataru said in filing with the Bombay Stock Exchange (BSE).
The offer will open for subscription on 29 November 2010 and close on 10 December 2010, the filing said. Collins Stewart Inga Pvt Ltd is manager to the offer.
Source: Money Life