Kesar Terminals & Infrastructure Ltd updates on sale of Kesar Multimodal Logistics Ltd

The Board of Directors of Kesar Terminals & Infrastructure Limited in its meeting held today i.e. 04th September, 2023, have approved the draft of Share Subscription & Share purchase Agreement("SSPA") to be executed between the Company, Kesar Multimodal Logistics Limited ("KMLL") & DP World Multimodal Logistics Pvt Ltd.("DPW"). The proposed transaction is subject to the fulfilment of conditions precedent and necessary approvals from the regulatory/statutory authorities.

DP World Multimodal Logistics Private Limited (DPW Multimodal), is a subsidiary of Hindustan Infralog Private Limited (HIPL). HIPL is a joint venture between DP World Global Investment BV (DP World Global) and National Investment Infrastructure Fund (NIIF). DP World Global and NIIF are holding 65% and 35% of equity share capital of HIPL respectively.

Shares of KESAR TERMINALS & INFRASTRUCTURE LTD. was last trading in BSE at Rs. 45.00 as compared to the previous close of Rs. 46.00. The total number of shares traded during the day was 11610 in over 52 trades.

The stock hit an intraday high of Rs. 45.99 and intraday low of 44.13. The net turnover during the day was Rs. 522641.00.

Source : Equity Bulls

Keywords

KESARTERMINALSandINFRASTRUCTURE INE096L01025 KTIL KMLL StakeSale DPWorld