Ashirwad Steels & Industries Ltd to sell LPG bottling plant at Howrah

Ashirwad Steels & Industries Limited has on 24-01-2022 executed two fresh agreements with the purchaser company namely SHV Energy private limited regarding the sale of company's LPG Bottling Plant, situated at Uluberia industrial growth centre (WBIIDC), Howrah. The first agreement is regarding sale, transfer and assignment of the entire lease hold land of the said plant (including civil structures and factory sheds built thereon) for a consideration value of rupees twelve crores (plus GST) and second agreement is regarding sale and transfer of all movable assets (including plant & machinery) of the said plant for a consideration value of rupees four crores plus GST. These two fresh agreements are in substitution/replacement of the earlier Business transfer agreement dated 03.01.2019 executed with the said buyer company for a total consideration value of rupees sixteen crores. The total consideration amount of rupees sixteen crores has remained same and unchanged. The deal was stuck for a long time for want of necessary approval from WBIIDC, the lessors of the land. The board had already taken the requisite approval of the shareholders of the Company in this matter vide postal ballot notice dated 25.06.2018.

Shares of ASHIRWAD STEELS & INDUSTRIES LTD. was last trading in BSE at Rs. 17.60 as compared to the previous close of Rs. 17.20. The total number of shares traded during the day was 8657 in over 129 trades.

The stock hit an intraday high of Rs. 18.05 and intraday low of 16.35. The net turnover during the day was Rs. 149737.00.

Source : Equity Bulls

Keywords

ASHIRWADSTEELSandINDUSTRIES INE338C01012 LPGBottlingPlant Sale Howrah