Escorts completes acquisition of 40% stake in Kubota Agricultural Uniform timeline for private placement of securities from Dec

Escorts Ltd today completed the acquisition of 20 mln shares or 40% stake in Kubota Agricultural Machinery India Pvt Ltd for 900 mln rupees, part of a deal signed with Japan-based Kubota Corp, the company said in an exchange filing. On Mar 20, Escorts had signed a deal with the Japanese tractor manufacturer under which the latter was to pick up 10% stake in the company for 10.42 bln rupees.

The Securities and Exchange Board of India (SEBI) on Monday came up with a uniform timeline for listing of securities on a private placements basis. The standardised timeline will be applicable for listing of non-convertible redeemable preference shares, debt securities, securitised debt instruments.