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Kirloskar Electric’s board approved share allotment to Kirloskar Power Equipments for Rs 40 crore
23-Sep-2026, 08:13

Kirloskar Electric Company Limited announced that its board approved the allotment of 34,68,007 equity shares with a face value of Rs 10 each at an issue price of Rs 115.34 per share to Kirloskar Power Equipments Limited, a promoter group entity, for a total consideration of Rs 39,99,99,927.38. The board also approved the closure of a Master Restructuring Agreement dated June 30, 2015, and any supplementary agreements with Bank of India and its consortium bank, noting a successful exit from the arrangement with no negative impact on the company.