Linde India Ltd JV completes sale of plant to JSW Steel Ltd

Linde India Ltd's joint venture company, Bellary Oxygen Company Private Ltd. has accepted JSW Steel Ltd.'s offer for purchase of the 855 tonnes per day Air Separation Unit and other related assets owned by the aforesaid joint venture company, which form part of the Belloxy Divestment. In view of the expiry of the gas supply contract with JSW Steel Ltd. on 14 November 2021, Bellary Oxygen Company Private Ltd. has signed and executed the Asset Sale Agreement with JSW Steel Ltd. and has received the consideration amount of Rs. 50 crores (Rupees Fifty crores only) for the transaction. The joint venture company has since handed over the possession of the 855 tpd ASU and other related assets to JSW Steel Ltd. as of 00:00 hours of 15 November 2021 and has also signed the closing documents on15 November 2021.

As a consequence of the above, the Hold Separate Arrangement in respect of the Belloxy Divestment will come to an end.

Shares of JSW Steel Limited was last trading in BSE at Rs. 664.65 as compared to the previous close of Rs. 661.50. The total number of shares traded during the day was 158406 in over 4113 trades.

The stock hit an intraday high of Rs. 673.95 and intraday low of 655.90. The net turnover during the day was Rs. 105384072.00.

Shares of Linde India Limited was last trading in BSE at Rs. 2493.15 as compared to the previous close of Rs. 2510.60. The total number of shares traded during the day was 6703 in over 1253 trades.

The stock hit an intraday high of Rs. 2554.95 and intraday low of 2488.25. The net turnover during the day was Rs. 16849185.00.

Source : Equity Bulls

Keywords

JSWSteelLimited INE019A01038 JSWSTEEL LindeIndiaLimited INE473A01011 523457 AssetSale AirSeparationUnit