Jubilant Ingrevia Ltd arm divests stake in Safe Foods Corporation

Jubilant Life Sciences International Pte. Limited, Singapore, a wholly owned subsidiary of Jubilant Ingrevia Ltd has divested its entire 10% stake, consisting of 5,40,463 shares, held in Safe Foods Corporation on 21.09.21 for a consideration of US $ 18.2 Million (approx. Rs 134.2 Crs) pursuant to approval of the plan of merger between Safe Food and Packers Sanitation Services Inc Limited.

The current book value of Safe Foods Investment, reflected at Fair value through Other Comprehensive Income is US$ 6.5 Million (approx. Rs 47.8 Crs).

Shares of Jubilant Ingrevia Limited was last trading in BSE at Rs. 761.1 as compared to the previous close of Rs. 772.4. The total number of shares traded during the day was 81582 in over 2293 trades.

The stock hit an intraday high of Rs. 788.05 and intraday low of 755.5. The net turnover during the day was Rs. 62840237.

Source : Equity Bulls

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