Ramco Cements invest Rs 5 crore in Lynk Logistics through rights issue

The Ramco Cements has invested Rs 5 crore in the capital of Lynk Logistics by subscribing five crore equity shares of Rupee one each, through their rights issue.

Post this investment, the total shareholding of Ramco Cements in Lynk Logistics is now 40 crore shares with a face-value of Rupee one each, constituting around 46.32 per cent of its paid-up share capital.

Lynk Logistics, which aims to foray into the business of aggregators in the logistics field, is mainly supported by Ramco Cements and its other promoters of the Ramco Group. The investment is made by face value and by participating in the rights issue.

The Ramco Cements, a part of the Ramco Group, is one of the leading cement manufacturing companies in India, which produces ready mix concrete and dry mortar products as well as operates wind farms.

At 1.05 pm on Monday, the stock of Ramco Cements Limited is trading at Rs 881.00, up by 1.46 per cent against its previous close of Rs 868.30. Its 52-week high is recorded at Rs 883.30 and its 52-week low is Rs 553.55 on BSE.