NR Agarwal Industries Ltd approves asset sale to Shree Ajit Pulp and Paper Ltd

The Board of Directors of NR Agarwal Industries Ltd at its meeting held on October 14, 2021 has approved the Asset Sale of Unit 2 (Writing & Printing) situated at Plot No.1, Phase I, GIDC, Vapi - 396195, Dist. Valsad, Gujarat State to Shree Ajit Pulp and Paper Limited subject to the approval of shareholders', banks and other regulatory authorities.

The aggregate consideration to be received from the sale transaction is Rs. 99 crores (Rupees Ninety Nine Crores) subject to closing adjustments as may be mutually agreed between the parties, plus applicable taxes.

The proposed closing date for sale transaction is 28th February, 2022 or such other date as may be agreed by the parties in writing but not later than 31st March, 2022.

Shares of N R Agarwal Industries Limited was last trading in BSE at Rs. 334.00 as compared to the previous close of Rs. 329.65. The total number of shares traded during the day was 8735 in over 500 trades.

The stock hit an intraday high of Rs. 338.00 and intraday low of 331.95. The net turnover during the day was Rs. 2919649.00.

Source : Equity Bulls

Keywords

NRAgarwalIndustries INE740D01017 NRAIL AssetSale