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Subros raises funds on preferential basis

Subros raises funds on preferential basis

Subros has raised funds on preferential basis. The Allotment Committee of the Board of Directors of the company at its meeting held on December 07, 2018, allotted 52,47,150 Equity Shares of Rs 2 each, on preferential basis, at a price of Rs 400 per Equity Share (including a premium of Rs 398 per equity share) to DENSO Corporation, Japan for a total consideration of Rs 209,88,60,000. Further, upon allotment, the equity paid-up capital of the Company stands increased to Rs 13,04,71,500 divided into 6,52,35,750 equity shares of Rs 2 each from Rs 11,99,77,200 divided into 5,99,88,600 equity shares of Rs 2 each.

Subros is a leading manufacturer of automotive air conditioning systems and thermal products for automotive applications in India. The company has also been supplying cab mounted HVAC Units to Indian Railways for Driver Cabin application.

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