KRBL Ltd to explore hiving off of Energy Business

The Board of Directors ('Board') of KRBL Ltd, at its meeting held today i.e. Tuesday, 11 August 2020, has discussed the potential hive off of the Company's Energy business into a newly formed legal entity ('potential restructuring'). The intent of the said potential restructuring is to unlock the value of Energy business separately.

The Board has appointed KPMG Assurance and Consulting Services LLP as the tax advisor in connection with the potential restructuring and has asked the senior management to evaluate various options for the potential restructuring. The senior management will, in consultation with the Company's advisors, prepare and present a draft restructuring proposal enumerating options for the Board's consideration in due course.

Please note that currently no decision to undertake any restructuring of the Company has been approved by the Board.

Shares of KRBL LTD. was last trading in BSE at Rs.310.65 as compared to the previous close of Rs. 314.5. The total number of shares traded during the day was 99363 in over 2667 trades.

The stock hit an intraday high of Rs. 339.6 and intraday low of 301.85. The net turnover during the day was Rs. 31917309.

Source : Equity Bulls

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