Shareholders of 3M India have approved a proposal by the company to invest in 3M Electro & Communication.
The company would be investing in the entire issued and outstanding equity share capital (viz. five lakh equity shares of ₹10 each) for a total amount of not more than ₹590 crore.
3M Electro & Communication is a subsidiary of 3M Company, US, while 3M India is the arm of 3M Co, US. Shares of 3M India slipped 0.28 per cent at ₹23,609.80.