India Glycols Limited updates on stake sale of JV

The Board of Directors of India Glycols Limited in its meeting held on 31st October, 2022 has, considered and approved the execution of a Share Purchase Agreement ("SPA") for sale of Company's entire investment in equity shares in joint venture namely Kashipur Infrastructure and Freight Terminal Private Limited ("JV Co") to Gateway Distriparks Limited ("the Buyer").

Also, on and from the closing date as mentioned in the SPA, the existing shareholders and share subscription agreement dated 30th September 2014 entered into by and between the Company, Apollo Logisolutions Limited, a JV partner and JV Co shall stand terminated.

Shares of India Glycols Limited was last trading in BSE at Rs. 798.65 as compared to the previous close of Rs. 746.85. The total number of shares traded during the day was 170912 in over 1570 trades.

The stock hit an intraday high of Rs. 805.70 and intraday low of 746.00. The net turnover during the day was Rs. 135250722.00.

Source : Equity Bulls

Keywords

IndiaGlycols INE560A01015 SPA StakeSale KashipurInfrastructureandFreightTerminal