V-Guard Industries Ltd completes acquisition of Sunflame

V-Guard Industries Limited has completed the acquisition of 100% shareholding of Sunflame Enterprises Private Limited today (i.e. January 12, 2023) for an aggregate consideration of Rs. 680.33 crores (Rupees Six Hundred and Eighty Crores and thirty three lakhs only)] computed after the closing adjustment as described in the Share Purchase Agreement dated December 9, 2022. Out of the total consideration computed, an aggregate amount of Rs. 25 crores (Rupees Twenty Five crores only) will be paid to the selling shareholders after two years from the date of closure.

Accordingly, Sunflame Enterprises Private Limited has become a Wholly Owned Subsidiary of the Company with effect from January 12, 2023.

Shares of V-Guard Industries Limited was last trading in BSE at Rs. 256.85 as compared to the previous close of Rs. 252.75. The total number of shares traded during the day was 8780 in over 740 trades.

The stock hit an intraday high of Rs. 257.95 and intraday low of 250.50. The net turnover during the day was Rs. 2228019.00.

Source : Equity Bulls

Keywords

VGuardIndustries INE951I01027 Acquisition Complete SunflameEnterprises