Promoter Group Acquires Unlisted CCPS in Off Market Deal with Union Bank of India
Bharat Wire Ropes Ltd has seen its promoter group acquire a stake in the company through an off market transaction involving unlisted Compulsorily Convertible Preference Shares (CCPS). The shares were purchased from Union Bank of India (UK) Limited.M/s. Gyanshankar E-Trading LLP, representing the Promoter Group, acquired 3,782 unlisted CCPS from Union Bank of India (UK) Limited in the off market transaction.This move comes as a backdrop to previous allocations made to consortium banks during the company's restructuring process. A total of 38,266 unlisted CCPS were previously allotted to a Consortium of Banks following the conversion of a loan amounting...