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Sundram Fasteners to buy promoters' stake in TVS Autolec.
(From Business Line)
Chennai, July 18. SUNDRAM Fasteners Ltd has informed the Bombay Stock Exchange that it has entered into an agreement with Mr K. Vasudevan and his family members for acquiring 23.55 per cent equity of TVS Autolec Ltd, from them.
As per the agreement, Mr Vasudevan and family would sell 17.42-lakh equity shares of TVS Autolec to Sundram Fasteners at a price of Rs 125 per share.
The TVS Autolec scrip opened at Rs 115.40, and closed at Rs 124.05, after reaching a high of Rs 126, on the BSE on Friday.
After the …
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