Rana Sugars Ltd divests 90% stake Karimganj Biofuels Private Limited

The Company has divested 90% equity investment in its Wholly Owned Subsidiary Company, M/s. Karimganj Biofuels Private Limited and thus, M/s. Karimganj Biofuels Private Limited ceased to be a subsidiary Company of M/s. Rana Sugars Limited.

Karimganj Biofuels Private Limited (Wholly Owned Subsidiary of Rana Sugars Limited) has not commenced any business operation / activity(ies) since its incorporation. It has a networth of Rs. 1.00 Lakh as at 26th March 2021.

The consideration for divestment of equity investment held in subsidiary is Rs. 10/- per share aggregating to Rs. 90,000/-.

Shares of RANA SUGARS LTD. was last trading in BSE at Rs.14.75 as compared to the previous close of Rs. 14.97. The total number of shares traded during the day was 112406 in over 596 trades.

The stock hit an intraday high of Rs. 15.25 and intraday low of 14.58. The net turnover during the day was Rs. 1665647.

Source : Equity Bulls

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