Trishan Metals Private Limited becomes 100% subsidiary of IFB Industries Ltd

IFB Industries Ltd has entered into an agreement on 31st October, 2020 with Bagga Group and others to acquire balance 48.88% (11,474,020 nos. equity shares) equity shares of Trishan Metals Private Limited from Bagga Group erstwhile Promoter of Trishan Metals Private Limited at a consideration of Rs. 14.30 crores (Rupees Fourteen Crores Thirty lacs only) paid by bank transfer.

With this acquisition, Trishan Metals Private Limited will be a Wholly Owned Subsidiary of IFB Industries Limited.

Shares of IFB INDUSTRIES LTD. was last trading in BSE at Rs.705 as compared to the previous close of Rs. 729.5. The total number of shares traded during the day was 5116 in over 752 trades.

The stock hit an intraday high of Rs. 745 and intraday low of 695.25. The net turnover during the day was Rs. 3654525.

Source : Equity Bulls

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