Financial Daily
from THE HINDU group of publications
Wednesday, July 11, 2001
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Financial Daily from THE HINDU group of publications Wednesday, July 11, 2001 |
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Nod for 26% Andrew Yule stake in Descon
NEW DELHI: The Cabinet has approved a proposal of Andrew Yule & Company Ltd (AYCL) to acquire 26 per cent equity stake in Descon Consultants and Investments Ltd on a preferential allotment basis.
The equity stake will be acquired at par and will involve an investment of Rs 17.37 lakh of internal resources of AYCL. Descon has been promoted by Dishergarh Power Supply Company Ltd (DPSCL) which is also part of the AYCL group.
AYCL is a public sector undertaking which is engaged in the manufacture of industrial fans, tea machinery and various electrical items such as transformers and switchgears. The Government holds 92.15 per cent of the paid up capital of AYCL. -- Our Burea
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