BackForce Motors promoters hike stake in firm to over 60%
Promoters acquire 100,200 equity shares of Rs10 each from the market on 13 March
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New Delhi: Force Motors on Thursday said its promoters have acquired more than 100,000 shares of the company from the open market, thereby increasing their stake in the vehicle manufacturer to over 60%.
“The promoters of the company, Jaya Hind Investments Pvt. Ltd, have acquired 100,200 equity shares of 10 each from the market on 13 March 2015," Force Motors said in a filing to BSE. With this acquisition, the number of shares held by the promoter group stands increased from 7,821,295 equity shares to 7,921,495 equity shares, from 59.36% to 60.12% of the total paid up share capital of the company, it added.
Pune-based Force Motors markets a range of products including small commercial vehicles, multi-utility vehicles (MUVs), light commercial vehicles, sports utility vehicles (SUVs) and agricultural tractors. Force Motors shares ended at 1,388.50 apiece on BSE on Thursday, down 2.22% from their previous close.
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