Morgan Stanley to infuse $20 million in Ess Dee

Morgan Stanley will pay Ess Dee Aluminium a total of $20 million for the 1.41 million equity shares at $14.37 per share, subject to the approval of the shareholders of Ess Dee Aluminium Ltd. These shares will be acquired by Morgan Stanley at a premium of almost 12 per cent of the floor price. The said shares will be under lock-in for a period of one year.