Saturday, 3 November 2012
Sweden's SAAB invests Rs 202 cr in Pipavav Defence and Offshore
SAAB AB of Sweden has invested Rs 202 crore in Pipavav Defence and Offshore Engineering Company Limited (PDOECL). Pipavav has issued 2.45 crore shares to SAAB at Rs 82 per share which is at a premium of 7.75 per cent to the average six month’s weekly closing price of Pipavav’s stock price. With this share issue, SAAB will get 3.5 per cent shareholding in the Indian company with an option to increase it further at a later stage. The share price of Pipavav closed at Rs 82.35, up by 0.12
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