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Home arrow News arrow Business News arrow Steel Strips Wheels Ltd allots 3,77,000 Equity Shares to GS Global Corp
Steel Strips Wheels Ltd allots 3,77,000 Equity Shares to GS Global Corp Print E-mail
Written by Vijay   
Tuesday, 14 December 2010
Mumbai: Steel Strips Wheels Ltd has issued and allotted 3,77,000 Equity Shares of Rs. 10/- each to South Korea's GS Global Corp. at a price of Rs. 595/- per Share (i.e. at a premium of Rs. 585/- per share), on preferential allotment basis.

This strategic Investment would help SSWL to source competitive steel and also to develop high strength steel with their principals. SSWL would also look to source technology for its future projects through them.

This was approved by the Board of Directors of the Company at its meeting held on December 13, 2010.

GS Global Corp. is a US $ 130 Billion South Korean Company with Interests in Steel Trading, Petrochemicals, Real Estate etc.

After the issue of the proposed equity shares, the paid up Share Capital of the Company shall increase from Rs. 14,46,61,700 divided into 1,44,66,170 equity shares of Rs. 10/- each to Rs. 14,84,31,700 divided into 1,48,43,170 equity shares of Rs. 10/-each.

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