Kubota’s investment will constitute 9.1 per cent stake on a precapital reduction or 10 per cent on a post-capital reduction basis. Escorts will allot 1.23 crore shares through a preferential issue to Kubota at ₹850 per share, Escorts said in a regulatory filing.
The price represents a 48.21 per cent premium over the last traded price on March 19. JM Financial was the financial and transaction advisor to Escorts Ltd.
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March 21, 2020