Mafatlal Industries Ltd to sell stake in Vrata Tech Solutions Pvt Ltd

The Board of Directors of Mafatlal Industries Ltd at its meeting held on 16th June, 2022, has considered and approved the proposal for divestment of its equity stake / investment, in Vrata Tech Solutions Pvt. Ltd ("VTSPL"). The Company is holding 77.77% of the total paid up capital of (VTSPL) and it has decided to sell its entire stake / investment to a promoter group entity for an aggregate consideration of Rs 4,07,47,500/- ("Proposed Transaction").

Post the Proposed Transaction, VTSPL will cease to be a subsidiary of the Company.

Shares of MAFATLAL INDUSTRIES LTD. was last trading in BSE at Rs. 205.40 as compared to the previous close of Rs. 202.95. The total number of shares traded during the day was 1881 in over 20 trades.

The stock hit an intraday high of Rs. 207.60 and intraday low of 195.55. The net turnover during the day was Rs. 380748.00.

Source : Equity Bulls

Keywords

MAFATLALINDUSTRIES INE270B01027 StakeSale VrataTechSolutions