The Company in its Board Meeting held today i.e. 18th January 2019 considered and approved the proposal for an investment of INR 40 Crores (Rupees Forty Crores) in its Wholly Owned Subsidiary Company i.e. MPS Interactive Systems Limited.
For the purpose of this investment, a sum of Rs. 38.03 crores will be utilised by the Company from the funds raised through Qualified Institutional Placement (QIP). The balance amount of INR 1.97 Crores will be met by the Company from its internal resources.
The investment will be done by way of subscription to the equity shares at par on a rights basis.
Please take the above referred information on record.
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