Raunaq EPC International Ltd to sell stake in Xlerate Driveline India Limited

The Board of Directors of Raunaq EPC International Ltd, vide a resolution passed through circulation on July 30, 2021 has considered and approved the transfer by way of sale, 37,06,159 (24.91%) Equity Shares held by the Company in Xlerate Driveline India Limited (XDIL), an Associate Company within the Group to Mr. Sachit Kanwar, Executive Director - Operations of the Company for a total consideration of Rs. 2,59,43,113/- (Rupees Two Crores Fifty Nine Lakhs Forty Three Thousand One Hundred Thirteen Only) i.e. Rs. 7.00 per Equity Share, subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company.

Shares of Raunaq EPC International Limited was last trading in BSE at Rs. 26 as compared to the previous close of Rs. 25.15. The total number of shares traded during the day was 2412 in over 14 trades.

The stock hit an intraday high of Rs. 26.25 and intraday low of 23.9. The net turnover during the day was Rs. 59730.

Source : Equity Bulls

Keywords