Nahar Industrial clarifies on news regarding stake sale in Nahar Retail Ltd

Nahar Industrial Enterprises Ltd has clarified with reference to the news item appearing in a leading financial daily titled "PE investors may acquire 15% in Nahar Retail for Rs 120 cr", that the management of Nahar Retail Ltd which is an unquoted Company has in the price discovery exercise of its equity shares had been talking to various Private Equity Funds as its associations for the purpose of enhancement of paid up equity capital of the Company required for promotion of Company's business. However, as and when the final decision to allot the shares would be taken the Nahar Retail Ltd would immediately inform its holding Company so as to comply with all the formalities required under the previsions of law.

Source : Equity Bulls

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