Asian Paints Ltd has entered into a Shareholders Agreement and Share Subscription Agreement with the promoters of Weatherseal Fenestration Private Limited (hereinafter referred to as “Weatherseal Fenestration”), Mr. Harish Munireddy and Ms. Pratibha SB and Weatherseal Fenestration, for infusion of ₹19 crores (approx.) for 51% stake by subscription to the equity share capital of Weatherseal Fenestration, subject to customary closing adjustments and conditions precedent.
The Company has, today, subscribed to 51% of the equity share capital of Weatherseal Fenestration comprising of 10,409 equity shares of ₹10 (Rupees ten) each at a premium of ₹18,091 (Rupees eighteen thousand and ninety-one only) per share, issued on preferential basis for an aggregate cash consideration of ₹18,84,13,309 (Rupees eighteen crore eighty-four lakhs thirteen thousand three hundred and nine only).
Accordingly, Weatherseal Fenestration is now a subsidiary of the Company.
Asian Paints Board recommends final dividend – check out the details.
Shares of Asian Paints Ltd was last traded in BSE at ₹2635.35 as compared to the previous close of ₹2661.95. The total number of shares traded during the day was 116798 in over 17624 trades.
The stock last hit in BSE,
- Intraday High of ₹ 2669.40
- Intraday low of ₹ 2629.00