Goodluck Defence and Aerospace Pvt Ltd ceases to be wholly owned subsidiary of Goodluck India Ltd

The company's wholly owned subsidiary of the company named "Goodluck Defence and Aerospace Private Limited" has raised a sum of Rs. 136.50 cr. by way of further issue and allotment of 9100000 equity shares on preferential basis at a price of Rs. 150/- (including a premium of Rs. 140/-) per shares in its board meeting held on 19.12.2023 to the persons other than promoters, resulting to change its status from wholly owned subsidiary to subsidiary company of Goodluck India Limited. Post this preferential issue, Goodluck India Ltd. now holds 81.47% equity shares of Goodluck Defence and Aerospace Private Limited.

Proceed of the Preferential Issue will be used by Goodluck Defence and Aerospace Private Limited, subsidiary company of Goodluck India Limited, to cater the extensive needs of Defence & Aerospace Industry by establishing a new facility to carry out the business of forging, machining, treatment and coating of steel, stainless and special steel, alloys or any other metal either by way of open forging, die forging, robotic forging or any other method. The new facility with an investment of approx. 216.50 cr., funded by equity and debt, will have a capacity to produce approx. 11000 MT per annum and is expected to be commissioned by January 2026.

Shares of Goodluck India Limited was last trading in BSE at Rs. 923.95 as compared to the previous close of Rs. 915.45. The total number of shares traded during the day was 4813 in over 718 trades.

The stock hit an intraday high of Rs. 937.20 and intraday low of 915.00. The net turnover during the day was Rs. 4450787.00.

Source : Equity Bulls

Keywords

GoodluckIndia INE127I01024 GoodluckDefenceandAerospace