A circular resolution was passed by Board of Directors of Elpro International Ltd on 19th March, 2018 for sale of part of investment held with PNB Metlife India Insurance Company Limited.
The company holds strategic investment to the tune of 12.75% of the paid up capital of PNB Metlife India Insurance Company Limited, a company engaged in the business of Life Insurance.
The company is in discussion with one potential buyer for sale of part of its investment to the tune of approximately 1.25% of the paid up equity of PNB Metlife subject to receipt of all regulatory approvals in place.
The aforesaid transaction could fetch company a sum of Rs. 125 crore approximately.
Shares of ELPRO INTERNATIONAL LTD. was last trading in BSE at Rs.41.3 as compared to the previous close of Rs. 43.1. The total number of shares traded during the day was 10434 in over 51 trades.
The stock hit an intraday high of Rs. 44.5 and intraday low of 40.2. The net turnover during the day was Rs. 435405.