Hatsun Agro Product Ltd announces sale of Windmill Division for Rs. 135 crores

The Board of Directors of Hatsun Agro Product Limited at its meeting held today, i.e., 05-July-2023 have approved the Sale of Windmill Division of the Company to V.K.A. POLYMERS PVT. LTD at a Consideration of Rs.135 Crores (Rupees One Hundred Thirty Five Crores only) by way of transfer of all the Assets and Liabilities related to that on a Slump Sale basis.

The Seller / HAP has been evaluating the benefits derived out of its Windmill Division and was indulged in doing the Cost benefit analysis of continuing the Division as it is and purchase of Solar Power for its power requirements. On the detailed evaluation undertaken, the management of the Company in consultation with the experts decided to sell off its Windmill Division on a Slump Sale basis and the power needs of the Plants of the Company be met by way of purchase of Solar Power from various Solar Power Generating Companies which would result in saving the cost of power.

Shares of Hatsun Agro Product Limited was last trading in BSE at Rs. 925.45 as compared to the previous close of Rs. 925.15. The total number of shares traded during the day was 380 in over 59 trades.

The stock hit an intraday high of Rs. 928.05 and intraday low of 915.55. The net turnover during the day was Rs. 349699.00.

Source : Equity Bulls

Keywords

HatsunAgroProduct INE473B01035 WindMillDivision Sale