Published - 06 Oct 2020
Escorts acquired 40% equity shares of Kubota Agricultural Machinery India at Rs 45 per equity for Rs 90 crore's gross value. Kubota is the Japanese tractor brand and popular amongst the Indian farmers.
The Ministry of Corporate Affairs said in their statement that Escorts and Kubota carry a 40% - 60% shareholding partnership individually in KAI.
Kubota is a Japanese company and integrated at Osaka, Japan. Kubota is the company manufacturing complete agriculture machinery that contains farm implements, tractors, harvesters, and rice transplanters. It offers procurement, engineering, construction equipment. And also come up with the protection of water.
On the other hand, Escorts Group is a popular Indian brand. In BSE and National Stock Exchange, shares of Escorts Group are listed, and Escorts manufactured farming equipment, construction machinery, and railway machinery in India.
On 20th March 2020, Escorts Limited board of directors passed a consent for the possession of the previously mentioned 2 crore equity shares.
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