Infibeam Avenues Limited divests 51% stake in Infibeam Logistics Pvt Ltd

Infibeam Avenues Limited has divested its 51% ownership with control in its Wholly Owned Subsidiary i.e. Infibeam Logistics Private Limited to Osia Hypermart Retail Limited ("Osia"). The consideration received from such sale/disposal is INR 19 crores for 51% Equity Ownership with control.

Osia is an emerging supermarket chain with a focus on value retailing. It offers thousands of products under a single roof which caters to every need of a family under a modern ambience large retail mall. The Osia Hypermart stores have various divisions to meet the fluctuated shopping needs of customers and having its registered office at Basement Storel, 4D Square, Opp. IIT Eng. College, Nr. D-Mart, Visat Gandhinagar Highway, Matera, Ahmedabad, Gujarat - 380 005.

Shares of Infibeam Avenues Ltd was last trading in BSE at Rs.74.4 as compared to the previous close of Rs. 74.2. The total number of shares traded during the day was 24302 in over 380 trades.

The stock hit an intraday high of Rs. 74.95 and intraday low of 73.95. The net turnover during the day was Rs. 1804886.

Source : Equity Bulls

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