Cholamandalam Investment and Finance Company Ltd to divest stake in WDSI

Cholamandalam Investment and Finance Company Limited has, this day, entered into a share swap agreement with TVS Supply Chain Solutions Limited (TVSSCSL), White Data Systems India Private Limited (WDSI) and other shareholders of WDSI for the sale of 12,75,917 equity shares constituting 30.87% held by the Company in WDSI to TVSSCSL. As consideration for sale of WDSI shares, the Company will be issued 22,35,265 Compulsory Convertible Preference Shares of TVSSCSL. Consequently, WDSI will cease to be an associate of the Company upon completion of transaction.

Shares of Cholamandalam Investment and Finance Company Limited was last trading in BSE at Rs. 732.95 as compared to the previous close of Rs. 717.40. The total number of shares traded during the day was 71372 in over 1844 trades.

The stock hit an intraday high of Rs. 736.75 and intraday low of 710.75. The net turnover during the day was Rs. 52039960.00.

Source : Equity Bulls

Keywords

CholamandalamInvestmentandFinanceCompany StakeSale INE121A01024 WhiteDataSystemsIndia