Jindal Photo invests 2.8 mn Euros in SPV

Mumbai, July 6: Jindal Photo Ltd is set to make an investment of 2.8 million Euros in the special purpose vehicle (SPV) of the company for acquisition of a strategic stake in Coheris SA, a listed company in France.

Informing this to BSE, the company release said it has made an investment in the existing group SPV Jindal France SAS by way of subscription to 2.8 million shares of Euro 1 each in its share capital at a value of Euro 2.8 million constituting 38.74 per cent of its increased share capital.

One of the other group companies has also made an investment of Euro 0.7 million towards subscription to 0.7 million shares of Euro 1 each. The aggregate equity amount of Euro 3.5 million together with loan has been utilised by the said SPV for the purpose of acquiring strategic stake in Coheris SA.

Coheris SA is in the business of software publishing in the field of CRM and business intelligence and occupies leadership position in Europe in this area.

UNI