The Board of Directors of HIL Ltd at their meeting held today i.e on 11th July, 2018 that commenced at 1:45 PM and concluded at 2.55 PM has approved the consent to acquire, in compliance with Section 186, 180 and other applicable provisions of the Companies Act, 2013 and rules made thereunder and subject to other required approvals, 100% stake i.e 100,000 shares of a face value of Euro 1 each in Parador Holdings GmbH, Germany from the existing shareholders through Company's Wholly Owned Subsidiary proposed to be incorporated in the name and style HIL International GmbH, Germany. The enterprise value of Parador Holdings GmbH is EUR 82.8 million (INR 687.2 Cr converted at 1 Euro=INR 83).
The board also gave its consent to enter into, amongst others, a Sale and Purchase Agreement ("SPA") with the existing shareholders of Parador Holdings Gmbh for the said acquisition and authorized Mr. Dhirup Roy Choudhary, Managing Director & CEO of the Company, and Managing Director of HIL International GmbH (WOS), to execute the Sale and Purchase Agreement.
Shares of HIL LTD. was last trading in BSE at Rs.1900 as compared to the previous close of Rs. 1890.5. The total number of shares traded during the day was 1046 in over 95 trades.
The stock hit an intraday high of Rs. 1916.6 and intraday low of 1851. The net turnover during the day was Rs. 1974354.