S Chand And Company Limited completes first tranche of investment in iNeuron

S Chand And Company Limited had earlier announced regarding investment in iNeuron Intelligence Private Limited ("iNeuron") together with its wholly owned subsidiaries namely, Vikas Publishing House Private Limited ("Vikas") and Chhaya Prakashani Limited ("Chhaya") upto an amount of Rs. 7.50 crores (Rupees Seven Crores and Fifty Lakhs Only) in two tranches.

The Company had executed the definitive agreements on November 30, 2021 and the first tranche investment was to be made within 60 days from the date of execution of definitive agreements or such extended period as may be agreed between the parties.

The Company together with its wholly owned subsidiaries, Vikas and Chhaya has completed the first tranche of investment of Rs. 5.67 crores in iNeuron. Against this investment the Company, Vikas and Chhaya have been allotted equity shares and Series A Compulsory convertible preference shares of iNeuron.

Shares of S Chand And Company Limited was last trading in BSE at Rs. 112.00 as compared to the previous close of Rs. 117.50. The total number of shares traded during the day was 5374 in over 325 trades.

The stock hit an intraday high of Rs. 117.50 and intraday low of 111.50. The net turnover during the day was Rs. 606114.00.

Source : Equity Bulls

Keywords

SChandAndCompany INE807K01035 Investment FirstTranche iNeuron