Promoter to invest Rs. 150 cr in Indo Tech.

Prolec-GE International S de R L de C V, a joint venture between General Electric Company and Xignux, would infuse Rs. 150 crore in Chennai-based Indo Tech Transformers, LTD (Indo Tech). Prolec-GE is the promoter of Indo Tech and holds a 74.35 stake, according to the BSE.

The company received its board's approval for a proposal of 'subvention' from Prolec-GE International. The subvention is a one-time, voluntary, non-repayable, financial grant of an amount equivalent to $ 25 million, and would help it stabilise the net worth, it said.

BS