TopNews.in
5 Jul 2008
Singapore based GIC Special Investment has bought 25.4% equity stake in Reid & Taylor.
The equity stake was purchased for Rs 9 billion out of which Rs 7.4 billion would be received as an equity at the commencement of transactions. GIC Special Investments (GIC SI) would invest Rs 900 crore in Reid & Taylor through a fresh issue of shares and warrants.
The sold off 25.4% shares were valued at Rs35.4 billion while remaining 76.4% will be held by S.Kumars. These are valued at Rs 26.4 billion. RTIL equity shares would be issued at Rs695.18 to GIC SI.
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