Sayaji Industries Ltd completes sale of stake in Sayaji Sethness Ltd

Sayaji Industries Ltd had earlier announced to sell 12,00,000 equity shares of Sayaji Sethness Limited of the face value of Rs.10/- each held by the company, being 40% of the equity capital of Sayaji Sethness Limited to Sethness Products Company USA, the joint venture partner of the company, for an aggregate consideration of the INR equivalent to USD 32,00,000 subject to completion of agreed conditions.

The company has completed the sale of 12,00,000 equity shares of the face value of Rs.10/- per share and has received a consideration of USD 32,00,000 on September 5, 2018.

Source : Equity Bulls

Keywords