Jayshree Chem hold 92.31% stake in Share Capital

Thebullishtrends: Jayshree Chemicals share price closed today at Rs. Jayshree Chemicals has announced after the trading hours that the Company had subscribed to 6,00,000 Equity Shares of Rs 10/- each issued by East Coast Powers Ltd ('East Coast') for cash at par. The above Shares were allotted by East Coast to the Company on March 31, 2008 and upon such allotment, the Company holds 92.31% of the total Share Capital of East Coast. Accordingly, East Coast has become a subsidiary of the Company with effect from March 31, 2008.