S P Apparels Ltd hives off retail business to subsidiary

S P Apparels Ltd had earlier announced the formation of wholly owned subsidiary Company and moving the retail business in to the newly formed WOS named "S.P.Retail Ventures Limited". The company has completed hiving off retail operations into M/s. S.P.Retail Ventures Limited by executing slump sale agreement between M/s. S.P.Apparels Limited and M/s. S.P.Retail Ventures Limited at the value of Rs.53.50 Crores.

Shares of S. P. Apparels Limited was last trading in BSE at Rs. 420.65 as compared to the previous close of Rs. 432.30. The total number of shares traded during the day was 4034 in over 601 trades.

The stock hit an intraday high of Rs. 437.50 and intraday low of 413.60. The net turnover during the day was Rs. 1716404.00.

Source : Equity Bulls

Keywords

SPApparels INE212I01016 SlumpSale RetailOperations HiveOff SPRetailVentures