Mumbai, Maharashtra, India:Avantha Group Company CG had announced a buy-back of its equity shares through a Public Announcement published on July 4, 2013.
In this regard, SEBI vide its letter dated 12th July 2013 has advised CG to fulfill certain additional requirements emanating from SEBI’s press release dated 25th June, 2013 on its new Buy-back Regulations, as contained in SEBI’s abovementioned letter.
CG is in an advanced stage of fulfilling the requirements contained in the SEBI letter and will commence the buy-back immediately thereafter.
A corrigendum to the earlier Public Announcement will be published shortly.
About Avantha Group Company CG
Avantha Group Company CG is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers. The company is organized into four business groups: Power, Industrial, Automation and Consumer. CG clocks US$ 2.3 billion in revenues from product lines that cover the entire value chain of engineering offerings.
For more information on CG, please visit: www.cgglobal.com.
The US$4bn Avantha Group is one of India's leading business conglomerates. Its successful entities include BILT, Crompton Greaves, The Global Green Company, Avantha Power & Infrastructure, Solaris ChemTech Industries, Biltech Building Elements, Salient Business Solutions and Avantha Technologies. With a global footprint, the Group operates in 90 countries with more than 25,000 employees worldwide. The Group has business interests in diverse areas including power transmission and distribution equipment and services, paper and pulp, energy and infrastructure, food processing, farm forestry, insurance, chemicals, IT and ITES. Led by Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors.
For more information on Avantha, please visit www.avanthagroup.com.
Ms. Paula Sengupta, Global Head – Corp. Comms., CG (Crompton Greaves Limited), +91 (22) 24237516 / 67558771