Board of Kirloskar Oil Engines approves investment of Rs 50 cr in subsidiary

At meeting held on 10 August 2022

The Board of Kirloskar Oil Engines at its meeting held on 10 August 2022 has approved to invest in rights issue of equity shares having face value of Rs. 10/- each of Arka Financial Holdings (AFHPL), a wholly owned subsidiary of the Company, of Rs. 50 crore. In terms of the rights offer, the Company will subscribe to 5,00,00,000 equity shares at Rs. 10/- per equity share in AFHPL, having face value of equity share of Rs. 10 each and payments will be done in line with the Letter of Offer issued by AFHPL.

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