Limited has received requisite approvals for the name change of the company
from “Escorts Limited” to “Escorts Kubota Limited”.
with a market cap of US $3 billion, is among India's leading engineering
conglomerates, operating in the high growth sectors of Agri Machinery, Material
Handling, Construction Equipment and Railway Equipment.
and Kubota Corporation, Japan (“Kubota”) had decided to strengthen their
partnership aligned to their vision of global leadership in farm mechanization
and spreading farming prosperity. Kubota has increased its equity stake in
Escorts to 44.8% by subscribing to new equity shares and through an open offer
to the public shareholders of Escorts and also becoming a joint promoter of the
company along with existing promoters, the Nanda family, whose shareholding in
the Company remains unchanged and Nikhil Nanda continues to be the Chairman and
Managing Director (CMD) of the company
to Nikhil Nanda, CMD, Escorts Kubota Limited, “Our partnership with Kubota in
Escorts Kubota Limited has been welcomed by all our stakeholders and investors.
Consequently, the process was completed smoothly. We are now well poised at a
very interesting time in global history to contribute at much higher levels to
India and the world’s quest for food security, sustainable agriculture and
Kitao, President and Representative Director, Kubota, Japan, said, "We are
very pleased to partner with Escorts Kubota Limited at a time when we can
combine our strengths to provide advanced farm mechanisation solutions to
address global food security & enhanced farm productivity needs."